Fund Tipalti accounts
In the Tipalti Hub, you can view the total funds required above the current Tipalti account balance to cover all payments. You need to ensure that accounts have enough funds so that payments get paid on time and do not get deferred.
Tipalti Virtual Account
When it is time to fund your Tipalti account, go to the "Payments" tab, and click "+ Add funds". You will see "Important instructions" on how to fund your account. It is crucial that you follow these instructions to ensure funds get to your account quickly, and that payments go out in a timely manner.
The "Account details" section provides you with values for the following fields that are needed to fund your Tipalti bank account.
- Name on account
- Dedicated account number
- ACHAutomated Clearing House/ Wire routing number
Funding for same-day transactions is accepted until 11:30 a.m. PT/ 2:30 p.m. ET.
You can use the following methods to fund your account to ensure your payments are sent on time:
- ACH debit (automatic)
- ACH push deposit or wire transfer (manual)
Fund by corporate credit card
You can fund your account using a combination of ACH debit (automatic) and ACH push deposit or wire transfer (manual). Payers usually opt for ACH debit to automate the funding process, and for one-off cases where they need to fund the same day, they opt for a manual wire deposit.
Funding by card is another alternative if you want to use credit to fund your account and benefit from any rewards or rebates your card issuer offers.
ACH applies to USD accounts only. All non-USD accounts need to be funded by wire transfer.
An email notification is sent confirming your deposit was credited to your Tipalti Virtual Account.
To help you easily differentiate between your different Virtual Accounts, a default display name is automatically added when you create a Virtual Account. You can change it anytime.
If you’re a US entityAn entity can be a subsidiary, division, business unit, brand, etc. of your organization. Entities can have similar or different AP processes and workflows., Fund by card is a convenient way to fund your Tipalti Virtual Accounts using Mastercard or Visa credit cards. You can use the credit on your card to fund your Virtual Account instead of processing wire transfers from your bank.
To enhance transaction security, we've integrated 3-D Secure technology to provide an additional layer of authentication for credit card transactions, further protecting against chargebacks and fraud.
When you use your credit card, you can benefit from any cashback or rewards your card issuer provides, which can offset the network’s 2.9% service fee in some cases. Fund by card also helps with cashflow as you can leverage your issuer’s credit line to fund your accounts, if your bank account doesn’t have enough funds at the time.
In addition, you can securely store multiple cards in the Tipalti Hub. This makes it easier to manage different credit cards, and you don’t need to re-enter the card details for each transaction.
- You can add either Mastercard or Visa corporate cards.
By default, you can add up to USD 1 million to your Virtual Account per transaction using your credit card. You can ask your Customer Success Manager to adjust this limit. The request needs approval before the limit is adjusted.
If a credit card transaction is declined, you’re notified, and you can try another card. It’s also good to ask your bank why the card was declined.
You can only use this method to fund your USD Virtual Accounts.
With the flexibility of same-day or next-day funding options, Fund by card lets you manage your cash flow needs more effectively.
A 2.9% transaction fee is included in the USD 1 million maximum transaction limit. From a funding perspective, this is a maximum amount of USD 971,817.
To fund your Tipalti Virtual Accounts:
Go to Payments > Payment history
Click Funding instructions.
If you have multiple accounts, in the Select account field, choose the USD account and click Next.
In the Select method field, click Card and then Next.
Enter your card details and click Next.
Before you add funds, accept Tipalti’s terms and conditions for Fund by Card.
To add another card, repeat these steps. You can add as many cards as you want.
Your card details are saved and your card can now be used to fund your account.
After you add your credit card, you can use it to fund your Tipalti Virtual Account:
Go to Payments > Payment history.
Click Funding instructions.
If you have multiple accounts, in the Select account field, choose the USD account and click Next.
In the Select method field, click Card and then Next.
- If you want to add a different card, click + New card.
- If you saved multiple cards, select the card you want to use.
- To delete an existing card, click the 3-dot menu
and select Delete card, and in the Delete card? dialog, click Delete.
In the Amount field, enter the amount to be withdrawn from your card.
In the Summary section, the total charge you'll need to pay displays.
Click Fund. A confirmation message displays.
Before you add funds, accept Tipalti’s terms and conditions for Fund by Card.
If a bank challenges a transaction to check for suspicious activity, you may be redirected to the bank’s website so they can ensure the transaction is valid and secure.
Same-day funding
By default, it takes 1 - 2 business days for funding transactions to be processed. This means that funds will be added to your Virtual Account in the next business day, (not including weekends and holidays). To add funds even quicker than the next business day, you can also use same-day funding.
Same-day funding applies to funds submitted before 3pm PT on the same business day. Funds are processed and will be available on the same day or the next business day, depending on the funding time. For example, if funds were added on Saturday, they would appear in the Virtual Account on Monday. These flexible funding options help you manage your liquidity more effectively.
Same-day funding has an additional cost of an extra 10 bps (0.1%) surcharge on the basic fee. As the basic service fee for next-day funding is 2.9%, the fee for same-day funding is 3%. When adding funds, you can see the exact amount to be credited to your Virtual Account plus the 2.9% or 3% fee, and the Account Statement screen shows the funding amount without the fee.
ACH debit allows Tipalti to automatically debit funds from your bank account based on the payment scheduled date.
Use Auto top-up to ensure that you always have funds available for payments. Auto top-up works as follows:
Define a balance amount that is always available in your virtual account. This amount will be automatically topped up whenever you reach a predefined minimum balance in your account.
Once the balance falls below the minimum amount, an ACH debit is initiated to automatically replenish the balance.
For more information, submit a request to our Support Team.
Funds are only debited for approved payments.
If you reach your ACH debit cap limit, a message in the tooltip informs you that the limit has been reached. Since you now must fund your account manually, we show you exactly how much is needed. This information is also included in the "Funds required" and "Upcoming ACH debit" emails we send you, so that you see the cap limit and the funds that need to be deposited manually.
The cap logic works in the following way, assuming that the cap is $100,000 per 30 days:
- Day 1: ACH debit of $20k, remaining amount on cap = $80k
- Day 2: ACH debit of $10k, remaining amount on cap = $70K
- Day 3: ACH debit of $70k, remaining amount on cap = $0
- Days 4-30: No amount on cap, manual funding only
- Day 31: Remaining amount on cap = $20k
- Day 32: Remaining amount on cap = $30k
On the "Funds required" screen, you can easily view upcoming payments and forecast the amount you’ll need in your bank account for all your virtual accounts.
Go to Payments > Funds required to view the following information:
- Total funds required - Amount of funds to cover all payments per virtual account
- Payment orders - All payments that will be sent out for each scheduled date
- Unpayable amounts - The sum of payments that cannot be paid due to missing or incorrect payee configurations
If you have several virtual accounts that need funding, you can either view all the accounts, or select specific accounts to view.
The required funding amount is updated automatically with each payment submission. Hover over the amount to see a tooltip showing a clear breakdown of the funds required:
- Funds to be auto-debited
- Auto-debit pending payment approval
- Funds for manual deposit
When calculating the required funds, we look at:
- Funds you have in your "balance pool" including:
- Your current account balance
- Funds in Process - Funds we previously debited from your bank account and are still being processed before reaching your virtual account
- All approved payments to be paid, which include:
- Payments pending funds (NetNow repayments are included.)
- Scheduled payments - Payments scheduled to be paid on a future date
- Applicable payer fees (i.e., ADAccount Direct payer fees, Tipalti monthly SaaS fees, payer transaction or FXForeign exchange fees)
- Payments are auto-debited when the difference between all approved payments and the balance pool is positive.
- Payments awaiting approval will not be auto-debited until approved and are not included in the calculation of funds required.
- Changes in payee payment methods and/ or exchange rate fluctuations influence the amounts that display.
Click the "Payment orders" amount to see the scheduled payment orders for that day, which are organized by status—there is a tab for each status:
- Awaiting approval - Payments awaiting approval (These payments will not be auto-debited via ACH.)
- Pending funds - Payments pending funds (NetNow repayments are included.)
- Scheduled - Payments scheduled to be paid on a future date
- Pending withdrawal - Payments submitted to the provider, but funds have not been deducted from your virtual account yet
Only the relevant payment status tabs display (i.e., if you have no scheduled payments, the "Scheduled" tab will not display).
Tipalti sets up ACH debit for you!
- Setup:ACH debit needs to be enabled separately per virtual account. Please submit a request to our Support Team to have this feature enabled. Once it is enabled, by default, all funding will be automatically debited from your bank account.
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Submitting payments:ACH debit takes 4 business days and occurs in the following 2 scenarios.
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Payments are to be sent now - We recommend that you submit and approve your payment instructions to Tipalti at least 4 business days before you want payments to be sent to the bank for processing. If you are using the Bills module, bills need to be approved and submitted for payment at least 4 business days before the bill due date.
Example:
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Payments are to be sent now - We recommend that you submit and approve your payment instructions to Tipalti at least 4 business days before you want payments to be sent to the bank for processing. If you are using the Bills module, bills need to be approved and submitted for payment at least 4 business days before the bill due date.
- Payments are to be sent on a scheduled date - If you want a payment to be debited on a specific date, you need to add the scheduled date via API, when submitting bills for payment, or when uploading your payment CSV.
- Notification:You receive an email notification when funds have been debited from your bank account.
- Reports:You can view the automatic deposits to your Tipalti virtual account in the Account statement and Reconciliation reports.
Have a group of payments that need to be sent out quicker?
If you need to release payments sooner (i.e., before the 4-business day limit), you can fund your accounts manually by wire transfer/ ACH deposit.
- When submitting payment instructions, set specific payments outside the ACH debit cycle by toggling "On" the "Manual Deposit" option.
- Fund your accounts manually.
Tipalti then calculates the required funding amount, which can be viewed on the "Funds required" screen.
- If multiple virtual accounts have ACH debit enabled, a "Manual Deposit" toggle displays for each account. However, if an account has scheduled payments, the toggle cannot be turned on because manual deposit is not available for scheduled payments.
- The option to toggle "Manual Deposit" is also not available for payments submitted via API.
If you do not want to enable ACH debit, you can deposit funds manually via:
- Wire transfer
- All payers (except UK): Deposits can be funded in the currency of your funding account
- UK payers: Deposits can be funded in USD, GBP, EUR, or AUD only
- ACH push deposit (not supported for UK payers)
If you update/ change your bank information, you need to let our Support Team know by submitting a request for them to update the system; otherwise, your payments may not be processed on time.
Select a payment method below for additional details.
Wire transfer is the fastest method to deposit funds directly, in local currency, to your Tipalti account. Then Tipalti directs the payment to the payee's preferred account based on the chosen payment method. When it is time to fund your Tipalti account, go to the "Payments" tab, and click "+ Add funds". You will see "Important instructions" on how to fund your account. It is crucial that you follow these instructions to ensure funds get to your account quickly, and that payments go out in a timely manner.
As a cheaper alternative to wire transfer, you can use "ACH push deposit" functionality to fund your Tipalti account. This method allows only USD funding. ACH is a slower process than wire, so for urgent payments, fund via wire transfer.
If you are interested in setting up ACH functionality, please submit a request to our Support Team.
To send the ACH, you need to use the following values for Tipalti's bank account:
- Account number
- ABA routing
- Name on account
- Deposit reference
The correct values for these fields appear in the "Funding your account" dialog. Additional information needed to send wires is also included on this screen, but this information is not required for ACH. The relevant ACH fields will appear on the banking Hub when you send the funds.
Similar to wire transfer, you must include the deposit reference number so that we can identify your funds.
Once ACH setup is complete, you can fund either via ACH or wire transfer. Since ACH is a slower process than wire, you need to initiate the ACH funding further in advance than you do for a wire. We recommend that you fund your account 1 to 3 business days in advance of your planned payment date to ensure funds reach the account on time.