We actually do it both ways -- one way with an embedded ACH request that
goes straight to our bank -- we receive one 820 from them with all the
remittance advice on a daily basis. Another way is with a remittance
advice and no payment order. That one comes one day after the customer
wires the money to our bank account.
> ----------
> From: Anne Azzara[SMTP:[EMAIL PROTECTED]]
> Reply To: [EMAIL PROTECTED]
> Sent: Monday, February 26, 2001 4:28 PM
> To: [EMAIL PROTECTED]
> Subject: Re: 820 newbie question
>
> I guess I forgot to include that we would be the payee- anyway, I
> appreciate all who responded
> and help me to understand how this all get's put together, we are now in
> the process of
> contacting our bank and things are now falling into place.
>
> Thanks again!
> Anne
>
>
>
> Brandon Bee
> <bbee@wal-mar To: "'[EMAIL PROTECTED]'"
> <[EMAIL PROTECTED]>
> t.com> cc:
> Subject: RE: 820 newbie
> question
> 02/26/01
> 12:55 PM
>
>
>
>
>
>
> Are you the payee or the payor?
>
> Basically there are two distinct purposes for the 820.
>
> It can be used as a payment order to initiate a funds transfer. In that
> case, as the payee, you are sending the 820 to your bank to authorize them
> to release funds. They most likely already have an implementation guide
> available for this.
>
> It can also be used as a Remittance Advice that is sent from payor to
> payee
> to notify the payee that "the checks in the mail" so to speak. It doesn't
> necessarily relate to an actual electronic transfer of funds. The bank is
> not involved in the Remittance Advice usage of an 820. It is simply
> another
> transaction between two trading partners, and they would do the testing.
>
> If you are receiving payment via an 820, then the payor would be sending
> an
> 820 transaction to their bank to initiate payment. Your bank would
> receive
> a wire transfer via Automatic Clearinghouse (ACH) transaction. Your bank
> would notify you when payment was received. The bank actually receives an
> imbedded form of the 820 payment order in the ACH transaction and some
> banks
> are better at providing that information to their customers than others.
>
> Does that help?
>
> > -----Original Message-----
> > From: Anne Azzara [SMTP:[EMAIL PROTECTED]]
> > Sent: Monday, February 26, 2001 10:52 AM
> > To: [EMAIL PROTECTED]
> > Subject: 820 newbie question
> >
> > Hello list,
> >
> > I need information on X-12 version 4010 820 payment remittance advice-
> > basically not knowing how this all gets put together.......does the 820
> > get
> > sent
> > directly to our bank, and if so who does the testing with the T/P - the
> > bank ?
> > What information would we need to supply or T/P with to set up this
> > transaction set etc...etc...
> >
> > Any and all information would be greatly appreciated !!
> >
> > Anne Azzara
> > EDI Coordinator
> > Altana Inc.
> >
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>
>
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