EFT Sharing with Payment Assistant

When you onboard to Payment Assistant, you can choose to share your EFT vendor bank account details. From the Getting Started with Payment Assistant page or from Settings, Payables, under Payment Assistant you can Allow EFT sharing .

Tip: EFT details are shared only one time to set up the vendor’s Payment Assistant payment method.

Payment Assistant always contacts business vendors and lets them choose their preferred payment method. If the vendor chooses ACH, the EFT details you shared are used for the one-time setup.

Note: If REPAY determines the vendor is an individual, they aren't contacted. They're automatically enrolled for check payments unless you share EFT details or an email address. If you share EFT information, REPAY validates it and attempts to auto-enroll the individual in ACH payments. If the individual's vendor record includes an email address, REPAY sends an ACH enrollment form via Docusign. For more details, see Paying Individuals with Payment Assistant.

For organization and business vendors, Payment Assistant first offers virtual cards, the fastest and most secure payment method. If the vendor doesn’t want to use virtual cards, Payment Assistant offers ACH, which avoids the delays of printed checks. If the vendor chooses ACH, Payment Assistant uses the EFT details you shared to set it up.

If you don’t share EFT details, Payment Assistant requests them directly from the vendor.

Tip: If a vendor needs to update their EFT details and they’re enrolled in Payment Assistant, they must contact the Payment Assistant team at REPAY with the new information. Not doing so may delay payment or result in lost funds. To contact REPAY, call 801-679-6044 or 801-762-8772, or email payableshelp@repay.com.

If a vendor doesn’t want to use virtual cards or ACH, Payment Assistant sends a physical check, which may take 7–10 business days to arrive.

Note: If a vendor doesn’t respond with a payment preference, Payment Assistant sends checks until enrollment is complete. EFT banking information isn’t shared until a vendor chooses ACH as their payment method.

Required Vendor Record EFT Details

To share EFT bank details with Payment Assistant for ACH setup, the vendor record must include:

  • Vendor bank name

  • Routing number

  • Account number

  • Account type (most accounts are typically "Checking")

  • An email address with the Contact method type set to "EFT email"

  • Payment method set to "Electronic funds transfer"

Tip: To verify, open the vendor record, select Edit, then under EFT bank account, select to edit the Active EFT account.