Estimated setup and payment timing for Vendor Payments powered by MineralTree

Learn about the estimated time frames for setting up and using Vendor Payments powered by MineralTree. Find out how long it takes to subscribe and set up the service, enable accounts and vendors, and for a vendor to receive payment.

Vendor Payments is only available to pay US vendors in USD currency.

Setup

Task	Estimated duration	Notes
Subscribe to the service	1-3 days	You can subscribe to Vendor Payments powered by MineralTree by following these steps.
Complete the MineralTree onboarding workflow	10-15 days	Onboarding is a collaboration between you and MineralTree. It generally takes approximately 10-15 days to complete the onboarding workflow, which includes setting up your accounts and preferred payment methods, and receiving the application determination. This timeline assumes that you have all required documentation available and no major errors are found during the process.
Set up vendors	Immediate	After you enable your vendors, they're immediately subscribed to the service. MineralTree will work with you and your vendors to ensure your vendors receive payments in their preferred method.
Complete your first payment run	1-5 days	After your bank account is approved, MineralTree will work with you to schedule your first payment run to one of your vendors and verify that your first payments are processing as expected.

*The average setup time for Vendor Payments powered by MineralTree is approximately 20-25 days from the initial subscription date to your first payment run. This timeline assumes that onboarding tasks are completed in a timely manner and no major errors are found during the application process.

Payment timing

Payment method	Cut-off time	Funding	Estimated time for vendor to receive payment*
Virtual card	7:00 pm EST	On vendor swipe	24 hours after cut-off
ACH	7:00 pm EST	24 hours	3-4 business days after cut-off
Check	11:59 pm EST*	On vendor deposit	3-5 business days after cut-off

*Business days exclude weekends and holidays. Payment timing assumes that transactions follow standard controls for vendor payments (sufficient funds are available, funding accounts are allowed for ACH debits, payments comply with your established fraud rules, etc.). Timing can also fluctuate based on your vendor's bank ACH policies.