Cashflow360 Virtual Card: notice of change of payment method
There are 2 reasons a Virtual Card payment method could change.
User disables Virtual Card
If a user with manage vendors permissions disables Virtual Card for a vendor, the payment method on the vendor’s record will update from Virtual Card to check or ePayment - whichever was default prior to Virtual Card. Any inflight Virtual Card payments that have not been authorized will be reissued as a check or ePayment with no transaction fee. The original Virtual Card number will be immediately expired and cannot be used.
All future payments check payments or ePayments to the vendor will be by check with applicable transaction fees.
Vendor opts of Virtual Card
If a vendor/supplier contacts the Chase team and opts out of accepting Virtual Card payments, the payment method on the vendor’s record will update from Virtual Card to check or ePayment - whichever was default prior to Virtual Card, and Virtual Card payments will no longer be available for the vendor. Any inflight Virtual Card payments that have not been authorized will be reissued as a check or ePayment with no transaction fee. The original Virtual Card card number will be immediately expired and cannot be used.
All future check payments or ePayments to the vendor will be by check with applicable transaction fees.
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