Intro to Bulk Payments
Bulk payment processing allows users to initiate and approve multiple payments at once. To use bulk payments, users must upload spreadsheets in CSV format provided by Trovata. Bulk payments support ACH, Wire, and Transfer payments. This article outlines the requirements for each payment type and explains how they should be formatted within the file.
General
A CSV is a file of comma-separated values. It is a generic format supported by many spreadsheet applications, including Excel and Numbers. These applications also allow you to export your spreadsheet as a CSV file. Uploading any other file type is not supported. Please contact your Trovata representative for assistance with other file types or ERP integrations.
Getting Started
Before using bulk payments, the following requirements must be met:
The Payments Module must be activated with onboarded bank accounts. The account number and routing number combination (or BIC/IBAN) will be required to identify which account to initiate payments from. You can verify these accounts and their associated identifiers in the Accounts section of the Payments Module. Please note the exact formatting of account numbers (including leading zeroes). These are listed in the format required by the associated bank.
A Bulk Workflow must be established. A Bulk Workflow defines who is responsible for initiating, reviewing, approving, and releasing payments. Please note that a standard workflow will not be utilized when using Bulk Payments.
For a Trovata Bulk Payment Template, please download our sample here. Do not modify the column headers. Only append rows detailing the payments you wish to initiate.
Formatting Requirements
You can find accepted account identifiers in the Accounts section of the Payments Module. These identifiers include:
Account Number + Routing Number – Commonly used for domestic payments.
Account Number + BIC – Typically used for international payments.
IBAN + BIC – Standard format for international payments. Currently only available for Transfers at this time.
*Required for Wells Fargo Payments
CSV Column | Required | Format | Example | Notes |
Name | N | Free text | First Bulk Payment | When empty an autogenerated timestamp will be provided as the payment name |
Payment Type | Y | “ACH”, “Wire”, or “Transfer” | “ACH”, “Wire”, or “Transfer” |
|
Account Number | Y* | Free text | 0019230129 |
|
Routing Number | Y* | Free text | 21000021 |
|
BIC | Y* | Free text | CHASGB2L |
|
IBAN | Y* | Free text | GB63CHAS60161331926819 |
|
Amount | Y | Decimal | 1023.12 |
|
Currency | N | Currency Identifier | USD | Currency is not required. If empty, it will utilize the same currency as the source account listed above. |
Value Date | N | MM/DD/YYYY | 11/23/2024 | All value dates must be identical per batch. Please split into separate batches for different dates. |
Remittance | N | Free text | Inv 1234 and 12345 |
|
Beneficiary Name | Y | Free text |
| On account transfers Beneficiary Name is not required. The Beneficiary Name will be pulled from the company name of your onboarded account |
Beneficiary Account Number | Y* | Free text | 0019230129 |
|
Beneficiary Routing Number | Y* | Free text | 21000021 |
|
Beneficiary BIC | Y* | Free text | CHASGB2L | Only for use in Transfers |
Beneficiary IBAN | Y* | Free text | GB63CHAS60161331926819 | Only for use in Transfers |
Beneficiary Address Line One | N** | Free text | 1 Loop Blvd. |
|
Beneficiary Address Line Two | N | Free text | Unit 432 |
|
Beneficiary Address City | N** | Free text | Cupertino |
|
Beneficiary Address State | N** | Free text | CA |
|
Beneficiary Address Zip | N | Free text | 39102 |
|
Beneficiary Bank Address Line One | N** | Free text | 700 May St. |
|
Beneficiary Bank Address Line Two | N | Free text | Office 931 |
|
Beneficiary Bank Address City | N** | Free text | Incline Village |
|
Beneficiary Bank Address State | N** | Free text | NV |
|
Beneficiary Bank Address Zip | N** | Free text | 89451 |
|