Invoice Payments

Many of our clients take advantage of Salem Trust’s ability to pay invoices directly from their accounts. Invoice payment service helps clients manage expenses and operate more smoothly. Clients also gain the extra control of Salem Trust reviewing and paying only properly authorized expenses. Invoice payment features include:

  • Processing vendor payments via ACH or check, with a 5-day turnaround time
  • Processing vendor payments individually or by warrants approved for multiple payments
  • Providing 1099-M forms to vendors
  • Including payment details in the plan's statements
  • Providing the plan sponsor with online access to the trust accounting system
  • Handling of special vendor payments, as needed (additional charges may apply)

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Salem Trust Company is regulated by the Florida Department of Financial Regulation, Department of Financial Institutions