This guide will explain how SmartPay processes payments to your bank account
Payments for completed loads
SmartPay securely transfers payments for completed loads for your TEG Wallet to your bank account in one daily lump sum.
This may include payment from one or multiple suppliers.
For example:
- One invoice from one customer
- Multiple invoices from one customer
- Multiple invoices from multiple customers
When will I get paid?
Business hours (Mon-Fri, 8am-7pm): Payments are grouped and sent after 7pm.
You'll receive:
- A desktop popup notification to confirm the payment
- An email with remittance advice detailing each payment
- Please note: When the payment is made to your bank from SmartPay it will appear on your bank statement with Your Name as the payment reference. If you need to break down each payment and the supplier details, view the remittance advise where every detail will be shown.
Outside of business hours (Weekends and holidays): Payments are sent within minutes of being made.
- You'll receive instant email confirmation with remittance details.
Payment status tracking
SmartPay automatically updates invoice status:
| Status | Meaning |
|---|---|
| Pending Approval | Invoice not yet approved by load poster |
| Approved | Invoice approved |
| Scheduled | Payment scheduled by load poster |
| Paid | Payment completed |
System notifications
When payment is received, you'll see a popup on your next login that shows:
- Total amount received
- The reference number that matches your bank statement
Remittance advice and email
You’ll get an email and PDF of your remittance advice for all your payments – view the email subject line and email text below.
The remittance advice will show each transaction with a payment reference number. It’s the same reference number you’ll see on your bank statement.
| Subject: You've been paid! View your remittance advice |
|
Text: You've been paid through SmartPay on the TEG platform!
You've received a total of £1160.00 from 2 customer(s). We've sent your payment to your bank account in Trustd. And we've attached a copy of your remittance advice for your reference.
Details Payment reference - what you'll see on your bank statement: SmartPay tW5H52 Payment date: Tuesday, 11 June 2024 Total: £1160.00 Customers: 2
All the best, Transport Exchange Group
Please note this is an automated email. This mailbox is not monitored for responses. Need help? Contact us |
|
|
Payment reference numbers
Every TEG Wallet transaction has a unique reference number which will appear in your SmartPay statements as well as your bank statements, and your remittance advice email.
Reference numbers are formatted as: SmartPay-XXXXXX
Important Note Regarding SmartPay Wallet Transfers
When payments are made from your SmartPay Wallet to your bank account, your name will appear as the reference. This is because the transfer originates from your Wallet.
While this may look confusing, it is nothing to worry about and will not cause issues with banking or reconciliation.
To view a detailed breakdown of these payments:
- Go to your Wallet.
- Click on the outbound payment made to your bank.
- A panel will appear on the right-hand side.
- Click Remittance Advice to access a full payment breakdown.
This breakdown can be used for reconciliation purposes or as proof of income.
Not getting paid?