Payroll By Credit Card
How does the platform ensure seamless cross-border transactions?
The platform streamlines cross-border payments by allowing businesses to receive payments from international clients, convert funds into USD, and transfer the funds to any U.S. bank account without the need for complex banking procedures.
What is the pricing structure for cross-border payments?
For international payments, the platform charges $25 per transaction. Domestic ACH payments incur a $2 fee, and sending payments to vendors via ACH or wire transfer is charged at $5 per transaction.
Can clients from other countries link their local bank accounts directly to the platform?
No, the platform does not support linking domestic bank accounts from outside the U.S. Clients can, however, initiate international wire transfers that will be converted and deposited in USD.
How does the platform handle cross-border payments?
The platform allows international payments to be sent into a wallet in USD. It simplifies the process by eliminating the need for submitting forms to banks.
What service is needed for cross-border payments?
A payment solution that supports cross-border transactions, enabling international payments to be received in a single currency, such as USD, without the need for complex paperwork and lengthy bank procedures.
When should I submit the payroll transaction to get funds in my bank account?
To have the funds in your bank account before QuickBooks processes payroll, you need to submit the payroll transaction at least two days in advance. If you don't need the funds ahead of time, you can process payroll as usual and Zil Money will ...
Can I use Zil Money for other business payments apart from payroll?
Yes, Zil Money also allows you to use your credit card to pay vendors, rent, and other business expenses via ACH or wire transfer. You just need to upload the relevant invoice or payment request.
Can I use Zil Money’s payroll service for bi-weekly or monthly payroll?
Yes, Zil Money can handle both bi-weekly and monthly payroll, allowing you to submit payroll as needed. You can upload your payroll summary from QuickBooks and submit it to Zil Money for processing.
How are payments made using a credit card processed?
Payments can be made via ACH or by mailing a check to the recipient. You will need to upload supporting documents such as invoices or agreements to process these payments.
Can I earn credit card points when paying rent or payroll?
Yes, you can earn points and cashback for payments made using your business credit card. This applies to rent payments and payroll processing.
What payroll documents do I need to upload?
You need a payroll summary from your payroll provider that clearly shows the total payout amount. This is required for each payroll cycle, even if the amount stays the same.
How can a business prepare for payroll using a credit card?
Upload a payroll summary (PDF or screenshot) from your payroll software showing total payout amounts. This must be done each time, even if the amounts don’t change.
Will credit card transaction be declined for a large payroll amount?
It is unlikely to be declined since it's considered a business purchase, not a cash advance. However, ensure that proper documentation is uploaded to avoid rejection.
How many credit cards can be added?
You can add up to 5 credit cards to the Zil Money platform by default.
Can Zil Money be used for tax payments?
Yes, Zil Money can be used to make tax payments. These payments will appear as ACH or wire transfers to the government, avoiding additional credit card fees.
What's the process for payroll payments?
Upload payroll summary/statement Enter the amount to be processed Submit for processing Funds are available in 2 - 5 business days
Are there transaction limits?
There are no limits for most businesses. Zil Money can provide discounts for businesses processing $5M+/month.
How long does it take for funds to be deposited?
ACH: Up to 2 business days Wire transfer: 2–6 business hours (same day)
What are the fees for using a credit card for payroll?
Credit card processing fee: 2.9% (may be lower for high-volume transactions) ACH: Free with subscription, max $10 without subscription Wire transfer: $12 or 0.1% without subscription, $10 with subscription
When should the transaction be initiated?
It can be done on or before payroll day. If earlier funding is needed, ACH should be initiated two days prior, while wire transfers can be done the same day. Transactions must be manually submitted each time, as they are not automatic.
How does the credit card payroll process work in Gusto?
Payroll is first run in Gusto as usual with direct deposit. The payroll summary is then downloaded from Gusto and uploaded into Zil Money. Users select a credit card and bank account for payment. Zil Money charges the credit card and deposits funds ...