As announced in the March Hot Topic webinar, new vendors no longer need to register with Paymode-X if they wish to elect ACH as their payment method. This update went into effect on March 8.
An Improved Payment Experience
We heard you and your vendors! With the transition to in-house ACH, vendors can expect:
- A more streamlined election process: no more navigating to yet another third-party platform! Vendors will submit their ACH banking details directly on the PaymentWorks registration form.
- No fees – guaranteed: although Paymode-X offers a free ACH option, many vendors have inadvertently enrolled in the fee-based plan. In-house ACH eliminates this confusion and will always be free.
- Faster setup time: UCLA now owns the entire ACH setup process, which means a shorter turnaround time and a happier vendor.
What About Existing Vendors?
Vendors who elected the ACH payment method prior to the March 8 transition will continue to receive their payments through the Paymode-X payment network.
Payment method can be updated at any time by following the directions outlined on the Payment Methods web page.
Questions?
We’re here to help! Contact us at vendmgmt@finance.ucla.edu.
