What is Snapdocs VendorPay?
VendorPay uses the latest, most secure processing technology to handle your notary payments. With VendorPay, notaries are paid by Snapdocs via direct deposit for completed orders, and your company is billed twice a month in a single invoice for your Snapdocs and notary fees. VendorPay is transparent, reliable, and easy for all parties involved.
How do I get set up on VendorPay?
1) Add ACH details
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, go to Admin>Company Settings>Payment Method:
Company Settings>Payment Method:
2) Verify your account
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.
When your account is verified, it will look something like this:
You can learn more about adding ACH as your payment method here!
3) Reach out to firstname.lastname@example.org
Once your bank account is verified, reach out to email@example.com to coordinate a time for us to flip the switch (this can only be done on our end).
4) Sit back and enjoy VendorPay!
Once you’re set up on VendorPay, you can be rest assured that all orders created after it was turned on will be paid out that way, leaving you to focus on ensuring the highest quality closing experience for every party involved!
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 re-open a VendorPay order, simply reach out to us at firstname.lastname@example.org
- 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
To learn more about VendorPay orders, click here!
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 email@example.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
Sample VendorPay bill cycle calendar:
To learn more about the VendorPay bill cycle, click here!
How does VendorPay affect the notary’s experience?
VendorPay ensures that your notaries are paid on time for all the signings they do with your company, with no added work on their end! All they need to do is get set up with VendorPay one time, and then acknowledge that each signing will be paid by direct deposit. The notary can also tell that 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 firstname.lastname@example.org. 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!
If you are interested in using VendorPay, reach out email@example.com