If a vendor accepts VISA, university departments must use the Small Purchase Credit Card (SPCC) to pay invoices of $10,000 or less.
Note: Merchant Surcharging Considerations and Requirements Document available here
| Vendor E-Payment Form please see below for emailing instructions |
Commonwealth of VA W-9 Form (ONLY W9 WE ACCEPT) |
Provide a Commonwealth of VA W9 form (link to the only W9 form accepted). The Company name and tax id number MUST match W9 and IRS records.
Primary Benefits to Vendors for receiving electronic payments include:
Bank of America Virtual Payables Commercial Card Payments
Primary Benefits to Vendors for receiving Virtual Payables Commercial Card payments include:
- Enhances cash flow - Payment Terms Net 15 Days
- Reduces operational costs – no mail or paper check processing
- Ability to have a static card number for all payments from JMU
- No need to share bank account information – required when choosing ACH
- Promotes sustainability
When choosing Virtual Payables:
- Must have a merchant number and payment card terminal to process transactions
- Consider credit card processing limits
- Card is funded for the total payment amount of invoice/invoices being paid
- Consider requesting separate payments if large dollar invoices exceed processing limits
Bank of America Paymode-X ACH Payments
Primary Benefits to Vendors for receiving ACH payments include:
- Enhanced visibility. Access unlimited electronic remittance detail in the format of your choice, including CTX, custom AR files, and email remittance details 24 hours prior to receipt of payment.
- Stronger security. Mitigate the risk of payment misdirection and fraud through the secure Paymode-X network, which keeps your payments and bank account information safe.
- Fast access to funds. Electronic payments eliminate the wait time and manual processing associated with mailed checks.
- Improved control. We’ll send advance notifications of payments via email and Paymode-X to help you forecast cash flow.
- Please note that there may be a network use fee to receive faster payment, gain access to electronic remittance data, and deliver and track invoice status through Paymode-X. The Paymode-X team will further discuss enrollment options with you. Feel free to contact the Bank of America Paymode-X team directly at 800-331-0974 or enrollment@paymode-x.com to discuss options available.
When choosing ACH Payments:
- Must have a US bank account, US Address and a US federal tax id or social security number
- Provide your banking information in the secure Bank of America Paymode-X platform.
To register for either E-Payments Option, complete the Vendor E-Payment form and submit by email to jmuvendors@jmu.edu or by fax at 540.568.3346 and a Bank of America or James Madison University representative will contact you with additional information on completing the setup.
https://www.jmu.edu/procurement/vendors.shtml
Questions may be submitted to jmuepayments@jmu.edu or you may call Veronica Schweitzer at 540.568.6888.
