VendorPay FAQ

Felicia -

What Is Snapdocs VendorPay?

Snapdocs VendorPay allows notaries and companies to automatically send and receive payments through direct deposit. VendorPay is completely free to use for notaries.

Twice each month, on the 3rd and 18th, companies will be invoiced for the signings they processed in the previous billing period. An order must be both completed and closed before the 1st and the 16th, respectively, in order for payment to be processed. Companies are then charged 2 business days after they are invoiced, and this is the day that we initiate payment transfers to notaries. From the date we initiate payment transfers, it takes about 8-10 business days for the transfer to complete and for payments to actually show up in your bank account. Overall, notaries can typically expect to receive payment directly in your bank account within 1-3 weeks after a company closes an order.

Please note that only some companies on Snapdocs are currently enrolled in VendorPay, so only these companies will make their payments through direct deposit. For all other companies, they'll continue issuing payment via their regular method.

Note: Unlike regular orders, VendorPay orders do not have an option to "Mark as Paid." This is because we mark orders that are processed through VendorPay for you. This happens one day after we have received confirmation that your payment has been successfully deposited into your bank account. Learn more about marking orders as paid here.

 

Frequently Asked Questions

How can I get set up to receive direct deposit payments (via VendorPay)? - Follow these instructions to sign up for VendorPay.

How can I tell whether a signing is paid through Snapdocs VendorPay or not? - Figure out whether to expect payment through direct deposit or another method.

With VendorPay, how can I track the status of my payment and easily match my payments to my orders? - Learn how you can still easily do your bookkeeping and check on the status of your direct deposit payments. 

I'm not interested in receiving direct deposit payments (via VendorPay). Can I continue receiving payments by check? - Learn how to distinguish orders that are paid through VendorPay and orders that aren't, prior to indicating whether you're available for the signing.

Is VendorPay direct deposit secure? - Understand the security measures we take and how the funds in your bank account remain secure.

Why do you need my Social Security Number for VendorPay direct deposit? - Learn how your SSN is used only to verify your identity with our payment system provider.

How do I know which bank account my payments have been deposited into? - If you have multiple bank accounts, figure out which bank account your deposit landed in. 

I'd like to change the bank account I've connected for VendorPay. What happens if I update it in the middle of a payment transfer?

Why was the date of my payment transfer pushed back? - Understand why your payment transfer date changed and how the VendorPay payment cycles work.

How does the VendorPay microdeposit verification process work? - Learn why we verify bank details through a two cent microdeposit and how to resolve a failed microdeposit. 

Why does it take 8-10 business days for payments to be deposited into my bank account? - Learn why direct deposit payments through VendorPay aren't instantaneous. 

 

Have more questions? Submit a request

0 Comments

Please sign in to leave a comment.