ACH Payments with Payable API

Insurance Case

Claimant: Ben Harper

Location: Knoxville

Insurance type: Travel Insurance

Ben Harper had a scheduled return flight from London. Due to unforeseen circumstances his flight was canceled, necessitating an extended stay and potential rebooking fees. This case seeks compensation under his travel insurance policy for the unexpected expenses incurred.

This is a payment intended for a single recipient, and no endorsement is necessary. Ben has supplied his banking information, allowing the company to execute an ACH transaction (with the methodOfPayment) set to 1).

Step 1: Gather Payee's Information

Name: Ben Harper

Bank Account Number: 57304304

Bank Routing Number: 367054715

Email: Not Available

Phone Number: 865-238-5136

Address: Not Available


    "payees": [
        {
            "partyReferenceId": "{{$guid}}",
            "firstName": "Ben",
            "middleName": "",
            "lastName": "Harper",
            "businessName": "",
            "isBusiness": false,
            "socialSecurityNumber": "",
            "emailAddress": "",
            "phoneNumber": "8652385136",
           "address": {
                "addressLine1": "2659 Locus View Drive",
                "addressLine2": "",
                "addressLine3": "",
                "townName": "San Francisco",
                "country": "USA",
                "countrySubDivision": "CA",
                "postCode": "94108"
            }
        }
    ]

 

Step 2: Prepare Payable Details 

Organize the payment breakdown and relevant memos.

Payment Details

Net Total: $850.00

Currency: USD

Payment Terms: NET30

Due Date: August 31, 2023

Effective Date: July 20, 2023

Memo: Payment for damages related to the Rental Insurance Case: Flood Damage Evaluation, San Francisco.

Remittance Information

  • Extended Hotel Stay due to flight cancellation:
    Description: Additional 3 nights at London Central Hotel
    Amount: $450 ($15/night)

  • Meal Allowances for extended days:
    Description: Food and beverages during the 3-day period
    Amount: $180 ($6/day)

  • Rebooking Fee for Flight:
    Description: Charge incurred for rescheduling the cancelled flight
    Amount: $150

  • Miscellaneous Transportation Costs:
    Description: Additional transportation expenses within London due to extended stay
    Amount: $70

Organize the payment breakdown and relevant memos.


    {
    "payableReferenceId": "{{$guid}}",
    "recordNumber": "{{randomNum}}",
    "netTotal": 850.00,
    "isoCurrencyCode": "USD",
    "payableTerms": "NET30",
    "payableDueDate": "2023-09-22",
    "payableEffectiveDate": "2023-08-23",
    "payableApprovalStatus": 2,
    "memo": "Compensation for travel insurance claim 7625-IGW regarding Ben Harper's cancelled flight from London",
    "remittance": {
        "grossTotal": 2600.00,
        "grossDiscount": 0.00,
        "tax": 0.0,
        "lineItems": [
            {
                "unitPrice": 630.00,
                "lineItemTotal": 630.00,
                "discount": 0.00,
                "quantity": 1,
                "lineNumber": 1,
                "item": "Extended hotel stay and meal allowance",
                "description": "",
                "memo": ""
            },
            {
                "unitPrice": 150.00,
                "lineItemTotal": 150.00,
                "discount": 0.00,
                "quantity": 1,
                "lineNumber": 2,
                "item": "Rebooking fee for flight",
                "description": "",
                "memo": ""
            },
            {
                "unitPrice": 70.00,
                "lineItemTotal": 70.00,
                "discount": 0.00,
                "quantity": 1,
                "lineNumber": 3,
                "item": "Transportation costs",
                "description": "",
                "memo": ""
            }
        ]
    },
    "paymentInfo": {
        …
    },
    "payees": [
        …
    ]
}

 

Step 3: Provide Payment Details

Since Ben Harper has provided his bank account details, his claim can be settled through an ACH transaction. Given that it is a single-party payment without any endorsement, there’s no need for the SMART-Disburse method.

To kick off this payment simply supply the originationAccountReferenceId along with the bank account details of the payee.


    "paymentInfo": {
        "originationAccountReferenceId": "6B10E547-5859-4886-B028-A0C261B68ECC",
        "destinationFinancialInformation": {
            "isoCurrencyCode": "USD",
            "bankAccountDetails": {
                "nameOnAccount": "Ben Harper",
                "bankAccountNumber": "367054715",
                "bankRoutingNumber": "021000021"
            },
            "methodOfPayment": 1,
            "foreignExchangeInfo": {
                "originationIsoCurrencyCode": "USD",
                "destinationIsoCurrencyCode": "USD"
            }
        }
    },

 

Step 4: Submit the API request 

When the payload data is prepared, send it to the appropriate API Endpoint to initiate the disbursement.

Endpoint: /Payables/

HTTP Method: POST