VendorPay uses the latest, most secure processing technology to handle notary payments.
What is Snapdocs VendorPay?
With VendorPay, notaries are paid by Snapdocs via direct deposit for completed orders once payment is received. Companies are billed twice a month in a single invoice for your Snapdocs and notary fees. VendorPay is transparent, reliable, and easy for all parties involved. Depending on when the company's payment is received, the notary should receive payment in the next payment cycle.
Note: One of the huge wins with VendorPay is getting payment to notaries in a timely fashion. It is important for notaries to ensure they add a signing status when each signing is completed. Companies on VendorPay can expedite this process even more so by making sure docs are marked as sent, orders are marked as completed and closed.
Complete payment terms and details are available at our Terms of Use.
How do I get set up on VendorPay?
In order to use VendorPay, you must use ACH transfer. The bill cycle occurs twice in the month and payment for both the Snapdocs fee and notary’s fees are charged in one lump sum. There are no other payment options for VendorPay at the moment. Please follow the steps below to set up VendorPay.
Step 1: VendorPay works through electronic debit from a designated bank account. The first and most important step to using Snapdocs VendorPay is to add your ACH details.
To add your bank details, click on your name in the upper right hand corner. Then select Admin and then Company Settings.
Step 2: Then navigate to the Company Info page. Here you will see the Payment Method box to the right side of the page.
Step 3: Select Bank Account and then follow the instructions on the screen to add your bank information.
Step 4: Once you've added your bank details, Snapdocs will send two micro-deposits to the account on file. When you see those transactions in your account, you can verify your account in Snapdocs. You can learn more about adding ACH as your payment method here!
When your account is verified, it will show your bank information in the Payment Method box.
Step 5: Reach out to support@snapdocs.com. Once your bank account is verified, reach out to support@snapdocs.com to coordinate a time for us to flip the switch (this can only be done on our end).
Step 6: Sit back and enjoy VendorPay! Once you’re set up on VendorPay, rest assured all orders created after it was turned on will be paid out via direct deposit, leaving you to focus on ensuring the highest quality closing experience for every party involved!
Note: All orders that were created before VendorPay was turned on, regardless of when they were closed, will not be paid out with Vendorpay.
What is different about VendorPay orders?
With VendorPay, you can maintain complete control over the status, payment timeline and communication for all orders or you can be hands-free! The choice is yours.
- Completed orders are automatically closed after 1 week
- If you need to reopen a VendorPay order, simply reach out to Snapdocs at support@snapdocs.com
- Closed orders are invoiced in the next billing cycle
- If an order is not ready to be billed, put the order on hold until it’s ready
- Canceled orders are not billed
- There is no Snapdocs fee for Canceled or Did Not Sign orders
How does VendorPay change my billing cycle?
- Bi-monthly invoicing
- On the 3rd of the month, Snapdocs sends you an invoice for all orders that were closed before the 1st of the previous month. Two business days after the 3rd, Snapdocs charges your account for those orders
- On the 18th of the month, Snapdocs sends an invoice for all orders closed before the 16th of the month. Two business days after the 18th, Snapdocs charges for those orders
- After Snapdocs sends you a VendorPay invoice, you have two business days to review it and make any changes necessary by reaching out to us at support@snapdocs.com
- VendorPay invoices include:
- Notary fees for all orders completed and closed during the payment period
- Snapdocs order fees for all orders successfully completed and closed during the payment period
To learn more about the VendorPay bill cycle, click here! Sample VendorPay bill cycle calendar:
How does VendorPay affect the notary’s experience?
VendorPay ensures your notaries are paid on time for all the signings they complete with your company, with no added work on their end! All they need to do is set up VendorPay one time, and then acknowledge each signing will be paid by direct deposit. The notary can also check a signing is a VendorPay signing on the order page in the Notary Fees section and on their Accounting page.
Otherwise, their Snapdocs experience remains the same! The clean and clear payment process that VendorPay provides makes for happy notaries that will be ready to close when you need them next.
If any of the notaries you work with have questions about their payment status, pass them along to us at support@snapdocs.com. The best part of VendorPay is that we pay the notaries for you. We will handle the communication and issuing 1099s for you as well.
For more information about the notary's experience on VendorPay, click here!
How it works
Once you are on VendorPay, all of your orders created after the feature is turned on will be paid out via VendorPay. When you create an order and send out signing notifications to notaries, they will see on the signing notification the order is being paid via direct deposit.
Note: The first time a notary works with VendorPay, they will also be asked to accept the VendorPay terms.
Once the notary has accepted the signing and the signing has been completed, the order will be queued to automatically close. All VendorPay orders with a completion status will be automatically closed after 1 week. (Though you are still able to manually close orders if you wish!)
Once the order is closed it will be invoiced in the next bill cycle. After Snapdocs charges your company, payment takes 8-10 business days to process and distribute to the notary's bank account.
