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Updating Payment Information (With and Without a Factoring Company)
Updating Payment Information (With and Without a Factoring Company)
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Written by Steven Arevalo-Armendariz
Updated over 2 months ago

πŸ’³ Updating Payment Information (Without a Factoring Company)

  • Payments are sent via ACH only (no wire transfers).

  • To update bank details:
    ➑️ Contact Support β†’ Billing Issue β†’ Updating Payment Info.
    ➑️ Provide a voided check, bank letter, or direct deposit form.


πŸ’Ό Updating Payment Information (With a Factoring Company)

πŸ”„ Switching or Removing a Factor

  • Payments cannot be changed until a Letter of Release (LOR) is received from your factoring company.

  • Factoring company must send the LOR to apinquiry@vorto.ai.

  • After release, provide updated bank details for ACH payments.

βž• Adding a New Factoring Company

  • Factoring company must send a Notice of Assignment (NOA) to apinquiry@vorto.ai.

  • Set up Automated Payment Notifications for the factoring company under Settlements.

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