Question

RegalPay Sunset

  • 9 March 2023
  • 3 replies
  • 121 views

Userlevel 1

We’ve been using RegalPay for our ACH and Check payment processing (get the data out of Epicor, into RegalPay, approve transactions, process directly to Wells Fargo) for about 3 years now.

We just received an email that MineralTree is sunsetting RegalPay in September.  At this point, we are trying to determine if we should set up the EI and upload those files ourselves, or try to find a new software. If we attempt to do this ourselves, it’s going to be quite a bit of work on our end to grab all of the Supplier bank data and set up new payment types and whatnot, as well as more work for our finance department, since they just press a button now.

Does anyone else use a specific product to send ACH and Check data (we literally don’t print checks in house, Wells does it all for us) to their bank?


3 replies

Userlevel 1

We have been using the EI for our ACH for 4 years now and have brought multiple companies in to our instance and it has worked really well for us. Getting the supplier data setup is a little bit in the beginning but it is worth it and if there is a possible export of the data from your current service you could us DMT to mass load that in.

Userlevel 1

We can definitely grab the supplier bank data from the existing database, so that’s super helpful. I think we’re going to run into issues with the fact that we currently just pull over 1 file that contains both check and ACH payments, then pick when we get into RegalPay. I’m not so sure I can get everyone onboard with having to do 2 files (with things being set up on the Supplier record from the beginning), and the fact that someone will have to go upload the files themselves. Although, if there is any sort of API I could connect to, I could probably manage it. Our CAO is also concerned about the security of the bank data in the supplier record. I already have Supplier locked down so that 1 group can only create suppliers, and another group can only approve suppliers. This would lead to the group that can’t approve being the only group that can change bank data. After our most recent audit, I can completely understand her trepidation about bank data.

We’ve found that the most effective and transferrable way is to use the ISO 20022 standard.  It’s accepted by all banks, no middleman or ongoing costs (other than a relatively small fee charged by the bank), includes check outsourcing, ACH, wires, etc., all in the same file format.  If you change banks, you can basically just redirect it to the next bank without any software changes or major configuration changes on your end.

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