Pay with Efficiency
Many organizations report that a portion of their vendors are ready to switch to card payments, which can create substantial operational savings. Use your existing check run file to switch without disruptions to your weekly payments.
Ease your worries of check fraud by sending end-to-end secure payments via a virtual card instead of a check. Set approval permissions for your organization before issuing payments to give you complete control over the payment process.
You control the amount suppliers charge using ExactPay – a feature that backs up your payment by not allowing a vendor to charge a penny more or less than what is billed on the invoice. Each payment is administered through unique 16-digit card numbers that further enhances the security of your B2B payments.
We guide you through implementation, including performing supplier outreach and enrollment on your behalf. Status updates of newly enrolled vendors are provided throughout implementation to help with the transition.1
Become eligible for a cash rebate when your program reaches certain spend thresholds. Our dedicated Supplier Enablement team can help ensure you maximize your return on spend.
How it Works
1
Upload a list of unpaid invoices to Commercial AP from your ERP system.
2
A secure email is automatically sent to each supplier with a virtual card number and remittance information.
3
Your supplier charges the Commercial AP account for the invoiced amount.
4
The payment posts to your Commercial AP account.
Implementation is required in advance of the commercial accounts payable process working as described.
Still have questions? Many organizations find that starting with an analysis of which vendors may accept credit card payments helps them to determine if switching payment types is right for them. We offer a complimentary consultation to discuss your potential rebates, cost savings and even time savings.*
City National Bank & First American: Strength and Stability Working for You
First American Equipment Finance is a wholly owned subsidiary of City National Bank, an RBC Company. This structure allows us to offer City National Bank’s commercial card products while delivering unique value to our clients through industry specialization, knowledgeable teams, and leading-edge digital tools.
For more information about City National Bank, visit the company’s website at cnb.com.
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* Consultation does not guarantee vendor acceptance of the card.
A commercial credit card issued by City National Bank, subject to credit approval, is required in order to use Commercial AP.
Treasury Management Solutions Terms and Conditions apply. Please see cnb.com/agreements
1 Vendor enrollment services is available based on the number of vendors solicited and the projected purchase volume.
Equipment financing and leasing are offered by First American Equipment Finance, a subsidiary of City National Bank, and are subject to credit approval by, and documentation acceptable to, First American Equipment Finance. City National Bank does business in the State of Florida as CN Bank. For California clients: Loans made or arranged pursuant to a California Finance Lenders Law license.