A wire transfer allows you to move funds directly between bank accounts and is typically completed within hours. You can also use it to pay vendors who only accept wire transfers, which are often preferred in certain industries, especially when handling big payments.
In Gusto Bill Pay, we offer standard and same-day domestic wire transfers.
This article explains how to make a payment with a wire transfer.
❗Important:
- Before proceeding, ensure that the vendor accepts wire transfers.
- Wire transfers require specific vendor information. When asked, please submit the wire transfer banking details instead of the ACH details.
This article contains the following sections:
- Creating your wire transfer
- Adding vendor information
- Adding bill details (optional)
- Setting up how you pay
- Setting up the wire transfer
- Scheduling and finalizing your wire transfer
- Payment confirmation
Creating your wire transfer
1 - From the Pay Bills dashboard, Select + New Payment.
2 - In the Pay page, begin adding your payment information under Payment details.
Adding vendor information
1 - Add the Vendor business name. Start typing the vendor's business name in the search field:
- For existing vendors: Select the vendor from the dropdown list that appears as you type.
- For new vendors: Type the full business name and select + Add new vendor to create a new vendor profile.
2 - Enter the payment amount.
3 - Select the payment frequency. You can choose between a one-time payment and a recurring payment.
Adding bill details (optional)
1 - To include an invoice with your payment, select Add bill details.
This opens the bill details page, where you can:
- Select Browse to upload your invoice file from your device.
- Review the automatically scanned details and make any necessary edits
- Select Continue to pay once all details are correct
Gusto Bill Pay accepts PDF, JPEG, JPG, and PNG files up to 10MB. Upload one invoice per file. The system will scan your invoice and autofill payment details, but always review for accuracy. Use Replace to upload a different file or Cancel to remove it entirely.
Setting up how you pay
1 - Choose how you want to pay:
- Bank account
- Card
2 - Using the dropdown menu, select your preferred payment method.
Setting up the wire transfer
This step ensures your vendor receives the payment directly to their bank account by selecting Wire transfer as the delivery method.
For existing vendors:
- Use the dropdown menu under What your vendor receives to choose Wire transfer from the saved delivery methods.
- If Wire transfer isn't a listed delivery method or you need to update the delivery details, select Manage delivery methods.
a. Select + Add another button.
b. Select + Add details next to the Wire transfer option if you’ve never paid this vendor via this method before.
Or choose Edit if you wish to update the delivery details.
c. Next, add the wire bank details:
- Wire routing number
- Wire bank account number
- Account holder name
- A complete vendor’s address, including street address, city, state, and ZIP code.
Then, select Add at the bottom right.
d. Select Save when done.
For new vendors:
- Select the Add delivery method box under What your vendor receives.
- Select + Add details next to Wire transfer.
- Next, add the wire bank details:
- Wire routing number
- Wire bank account number
- Account holder name
- A complete vendor’s address, including street address, city, state, and ZIP code.
Then, select Add at the bottom right.
- Select Save when done.
Schedule and finalize the payment
The next step is to select when the funds will be delivered and confirm the payment.
1 - Select a delivery date.
Choose when funds will be delivered to your vendor. Select the desired speed from the list or select Custom date to pick it from the calendar.
We offer flexible delivery speeds for wire transfers:
- Same-day wire transfer - The vendor receives the funds on the same day.
- Regular wire transfer - 3 business days.
Please note:
- The delivery speed depends on multiple things: the selected delivery method, the amount, the day, and the time when you make the payment, etc.
- If you don’t see any of the delivery options, it’s unavailable for this payment.
- When selecting a delivery date in the calendar pop-up, federal holiday dates will be blocked. When you try to choose the date, it’ll display a Federal Bank Holiday.
2 - Add a memo to your payment (optional). This helps your vendor understand the purpose of the payment.
3 - Review all payment details carefully to ensure accuracy.
4 - Select Confirm and pay to schedule your payment.
Your payment is now successfully scheduled!
Step 4: Payment confirmation
From the Payment scheduled screen, you can do the following:
a. You can download or print your payment summary.
b. To email your vendor a detailed summary of the payment, select Notify vendor.
c. Select Back to bills to return to your main account view.
That's it! You've successfully created and scheduled a payment. You can find your new payment in the Payments tab. Your payment details are saved, and funds will be delivered according to your selected timeline and method.
Learn more about our delivery timeline in this article.