What is the “1.5%” in the Net15 ACH/Direct Deposit payment option?

The 1.5% is a fee that is taken off the total amount to be paid from the invoice. This is a cash discount that covers the cost of invoice and payment automation.

The ACH payment method eliminates paper invoices, eliminates paper checks, and shortens the time between invoice and payment – your checks will no longer be lost or delayed in the mail!   This initiative reduces waste of resources and time and allow UVA’s supplier community to get paid, quickly, efficiently, and securely.