Single-Use Accounts (SUA) is a versatile electronic payment tool that eliminates the need for a physical card and is an ideal solution for large transactions that would traditionally be paid with a paper check. Unlike other commercial card products, SUA allow 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 the matching and reconciliation of transactions.
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
- Optimize Working Capital – Hold cash longer by paying suppliers faster
- Increase Visibility – Capture better data, run customized reports
- Fraud Reduction – Eliminate the risks associated with paper checks
- Financial Benefits – Leverage the potential to earn rebate or financial return
North Central Texas Council of Governments
Automate and streamline the payment and reconciliation process of a popular program that provides individuals with financial assistance to replace a polluting vehicle with a new, low-emission vehicle.
Chase Single-Use Accounts
- The elimination of a reconciliation backlog and the potential for duplicate payments
- A reduction in 1.5 FTEs and the need for contract labor to perform reconciliation
- Faster and more efficient payments to automobile dealerships
- Enhanced service levels for automobile dealerships
- Strengthened accounting controls and reporting
To learn more about Chase's equipment finance solutions and how they can help you, please e-mail us or contact your local commercial banker.