Nightly, a single ACH is made to you for the sum total of all invoices, minus the bank financing fee.
If your corporate accounts are being financed through Apruve, that means we are working with a third party bank to make this happen. Here's a rough overview of how it works:
- Your customer is approved for a credit limit through Apruve.
- The customer checks out from your online store or through a sales rep using their credit account.
- Apruve receives a notification from your eCommerce or ERP platform that the product has shipped.
- An invoice is generated upon the time of shipment.
- All invoices created within a calendar day are consolidated with the bank.
- Nightly, a single ACH is made to you for the sum total of all invoices, minus the bank financing fee.
This is repeated daily, getting you paid quickly while still extending payment terms to your customer.