Pass-through payments are designed to keep you in control of your costs by letting you decide how much funding to take on and when to take it. It is only relevant for customers for whom you have previously advanced invoices through BlueVine. If we receive payment from a customer on an invoice you have not advanced, we'll forward the payment to you without deducting any fees. Essentially, pass-through payments let you receive payment to your BlueVine account on an invoice that you do not want advanced. In this case, we'll pass the payment through to the bank account you selected without deducting any fees. Pass-through payments are generally processed immediately, but under certain conditions may require a clearing time of up to 5 business days before being processed.
When are pass-through payments processed immediately?
We will process pass-through payments to you for any amounts up to your credit line within one business day of receiving the payment. If you choose to receive pass-through payments via ACH, pass-through payments that are processed typically take an additional 24-48 hours to arrive at your account due to ACH transaction processing and transit times. The 24-48 hours transaction processing time is governed by the operating rules and policies of NACHA (the National Automated Clearing House Association). If you choose to receive pass-through payments via Wire, pass-through payments that are processed immediately will be in your account generally within 12 hours. You can change your payment preferences directly on your BlueVine dashboard.
When are pass-through payments not processed immediately?
Pass-through payments above your credit line will have to wait a clearing time of 5 business days before being processed to you. This could add a total of 5-7 business days in transit time for payments above your credit line, depending on whether you choose wire or ACH for your pass-through payments. The 5-7 day payment clearing time is governed by the operating rules and policies of NACHA (the National Automated Clearing House Association).
If your credit line is $15,000, and your BlueVine Dashboard receives a pass through payment for $20,000, we will immediately pass through $15,000 to you. After the payment clears, we will pass through the remaining $5,000 to your business account. As a convenience for you, we will pass-through payments up to your credit line regardless if you're using all or only part of your credit line.
If we receive a payment from a client that you have not previously advanced through BlueVine, we will decline or cancel the transaction, return the sum to the originator, and alert you.