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Payments to WTI will be facilitated through a weekly ACH draw, reflecting the booking totals from the previous week. To reconcile any variances between booking and transaction activity, a quarterly true-up will be conducted. Detailed backup reports for each ACH draw will be furnished by World Travel's finance team.
Not if you chose the funding model with World Travel, Inc. There is also an option to establish a direct relationship with US Bank for WorldVC.
WorldVC automates payment processes, reducing reliance on traditional expense methods. It offers detailed reconciliation reports, ensuring transparent and efficient financial tracking.
US Bank integrates with many ERP such as Workday, Oracle and Certify. However, note that matching receipts to transactions is not supported for FBO through World Travel offering.
There is a one-time $3,000 implementation fee, and a $4.00 transaction fee each time a virtual card is modified at the point of sale.
A start-up deposit is required prior to deployment of WorldVC to cover one month’s worth of hotel spend. The deposit is due by ACH payment 5 days from the signature of the SOW.
Yes, payments for charges on WorldVC will be made to World Travel, Inc. The Virtual Card (VC) fee will be noted separately and added in addition to the current contracted booking fee with WTI.
WorldVC eliminates the need for personal cards, reducing the risk of unauthorized expenses. Additionally, its customized tolerances and spend limits enhance control and security.
Prior to implementation, clients are required to sign a statement of work and an ACH authorization form as part of the necessary legal documentation. If funding WorldVC through World Travel, an additional "Know Your Customer" is required by US Bank.
WorldVC automates payment for hotel reservations, streamlining the booking process and reducing the administrative burden on travel managers.
Not at this time.
WorldVC is designed to be versatile and can be used at a wide range of lodging booked through the GDS, including major chains and boutique establishments, providing flexibility for diverse travel needs.
The standard implementation process takes approximately four weeks from the signing of the statement of work. You can initiate implementation when ready.
Travelers can contact their dedicated agent team for assistance. Using the WorldMobile app allows travelers to resend fax view card details if needed.
WorldVC provides a virtual card seamlessly integrated into your profile, automatically adjusted for each reservation. Its "tap-to-pay" functionality simplifies check-ins for a hassle-free experience.
No, WorldVC cards are only valid for the cardholder’s travel reservations. Funding is added to the traveler’s WorldVC card for the hotel stay booked through World Travel.
Currently, WorldVC is designed for hotel transactions. However, it plans to expand coverage to include air travel, rideshare and dining.
At World Travel, Inc., we are committed to providing you with the best corporate travel experience through our innovative payment solution, WorldVC. Please note that WorldVC is a dynamic platform, and we are continually working to enhance its features and capabilities to better serve your needs.
As we strive for excellence, updates and improvements to WorldVC will be regularly implemented. This commitment to improvement may result in occasional updates to the information provided in the Frequently Asked Questions (FAQs) section. We appreciate your understanding as we evolve WorldVC to deliver an even more seamless and efficient payment solution for your corporate travel needs.
To stay informed about the latest updates, features, and improvements to WorldVC, please check back regularly. We value your partnership and look forward to delivering an enhanced WorldVC experience for your corporate travel management.
