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| Supplier outreach has already begun! |
In Phase 1 of our e-payments transition, we moved existing suppliers with active Paymode accounts over to electronic payments. Now we’re kicking off Phase 2, and we want to make sure you know what’s happening, why, and how it affects you and your suppliers.
What’s Happening in Phase 2
Phase 2 is all about outreach. We’re partnering with Bank of America to run an active campaign encouraging current suppliers to sign up for one of our preferred electronic payment methods: ePayables or Paymode. The campaign launched in early June and will run through September, with a second Paymode-specific campaign planned from September through November.
Why now?
Because by December 2025, we will sunset ACH payments through PaymentWorks, our current default electronic method. Suppliers who don’t enroll in either Paymode or ePayables by then will be paid by check, which will be net 45 and much slower.
We want to give suppliers plenty of time to make the switch—and that’s why we’re starting early.
What Suppliers Will Hear
Suppliers are already receiving communications from both UVA and Bank of America. Here's what we’re telling them:
ACH via PaymentWorks is ending in December 2025.
UVA is moving to Bank of America payment solutions: ePayables or Paymode.
Electronic payments are more secure, efficient, and reliable.
We’re here to help—and so is Bank of America.
We’re doing everything we can to make sure suppliers know this campaign is legitimate, helpful, and necessary. That includes building a website for verification and offering support through AskFinance.
Remember: We're not asking departments to take any action!
About the Payment Options
ePayables (Virtual Card) This is UVA’s preferred method of payment. Not every supplier will be offered this option, but we were thoughtful and deliberate in selecting those we believe are a good fit.
Payment Terms: Immediate upon receipt of a correct invoice What makes an invoice “correct”?
Contains all necessary info (PO number, invoice number/date, etc.)
Matches the purchase order (price, quantity, items)
Is undisputed by the department
If any of these aren’t true, we’ll pay as soon as they are resolved.
Paymode (ACH via Bank of America) This is a strong second option, especially for suppliers who opt out of ePayables. Bank of America offers free and premium versions of Paymode; the supplier chooses what works best.
Payment Terms: Net 30 (unless otherwise negotiated) Cost: Free basic version available
Check (Default if no action is taken) Check is still an option—but we’re strongly discouraging it.
Payment Terms: Net 45 Not negotiable, except in special cases
What You Can Do to Help
Build Your Purchase Orders Carefully: Match your PO to the supplier’s quote, line for line. This helps avoid match exceptions down the road.
Approve Invoices Promptly: If an invoice over $10,000 lands in your inbox for approval, don’t delay. That step is crucial for us to pay promptly.
Communicate Early: If something looks off or needs clarification, contact Procurement or AskFinance right away. The faster we can resolve the issue, the faster the supplier gets paid.
Support Is Just a Click Away
If you or your supplier has questions, AskFinance is your go-to. You don’t have to be an expert in payment methods—that’s what we’re here for.
We also have resources on our website for both you and your suppliers (including enrollment instructions!).
The Key Takeaways
ACH via PaymentWorks is ending in December 2025.
We want suppliers to transition to ePayables or Paymode now.
ePayables = Immediate pay for correct invoices
Paymode = Net 30
Check = Net 45 (and not preferred)
You don’t have to troubleshoot alone—AskFinance is here to help.
We’re excited about this change. It’s good for suppliers, good for UVA, and part of building a stronger, more reliable purchasing process. Thanks for helping us make it happen!
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Related content: UVAFinance is Transitioning Vendor Payments to Paymode ACH
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