The 'Link Your Bank' option enables Balance to withdraw funds based on the invoice amount. Once connected, the payment details will be stored for future transactions.
You will receive a routing number and account number to initiate a payment before the invoice is due. These banking details are unique to your account with the merchant and will always be the same routing information used in future payments.
You'll only have to enter your credit card details once. After that, they will be stored securely so you don't have to worry about reentering payment information.
Balance is the payments platform built specifically for B2B companies. inBuild is partnering with Balance to make it easier, faster, and safer to pay your subcontractors.
Balance encrypts all data in-transit and at-rest, and never sells data to 3rd parties. Your financial data will be fully secured if you choose to connect a bank account via Plaid.
Once you pay, you will be directed to a new page that shows that the invoice is paid, which will also be updated in the inBuild platform.
1-2 business days on average, but depending on their bank, it can take up to 4 business days for your subcontractor to see the funds in their account.