Single-Use Accounts (SUA) is a versatile electronic payment tool that eliminates the need for a physical card. It's an ideal solution for large transactions that you'd traditionally pay with a paper check. Unlike other commercial card products, SUA allows you to customize a single electronic card for each of your payments. It provides a 16-digit virtual account for each payment and lets you set the credit limit to the specific payment amount and the valid date range.
This one-to-one match of card accounts to payments gives you powerful security and antifraud control over your payment processing while automating transaction matching and reconciliation.
Features and Benefits
- Process savings: Automate payments by eliminating paper-based, manual activity.
- Enhanced controls: Set exact payment amount limits for a defined time period.
- Optimized working capital: Hold cash longer by paying suppliers faster.
- Increased visibility: Capture better data and run customized reports.
- Fraud reduction: Eliminate the risks associated with paper checks.
- Financial benefits: Leverage the potential to earn rebates or financial return.
Transportation Fiscal Operations Supervisor, NCTCOG
Case in Point
ClientNorth Central Texas Council of Governments
Automate and streamline the payment and reconciliation process for a popular program that provides financial assistance to individuals so they can replace a polluting vehicle with a
new, low-emission vehicle.
Chase Single-Use Accounts
- Eliminated a reconciliation backlog and the potential for duplicate payments
- Reduced personnel by 1.5 full-time employees (FTEs) and eliminated the need for contract labor to perform reconciliation
- Paid automobile dealerships more quickly and efficiently
- Enhanced service levels for automobile dealerships
- Strengthened accounting controls and reporting
To learn more about our payables solutions,
please contact us or call your Commercial Banker.