Non-Integrated Bank Accounts

One of the important features of Vantaca is our banking integrations. Integrated banks reduce much of the manual effort required to maintain your Association's Bank accounts, and make managing those associations much easier. If you have an association that maintains their primary banking relationship with a non-integrated bank, talk to your board about switching to fully leverage the power of Vantaca. If that is not an option, please keep in mind the following:

• No Moving Payments Between Owners
  Moving Payments either by splitting a payment in the lockbox file or using the payment adjustment ‘Move to Another Owner,’ should NOT be used to move payments to or from associations with non-integrated banks.
  The system assumes that the payment was deposited in the proper bank account and will automatically initiate a bank transfer between associations to correct this. Instead, make the adjustment manually on each ledger.
• Disable Autodraft
  For Owner Payment Options in the Settings > Portal Pages screen, disable the pages for Auto Draft Form and Auto Draft Enrollment.  This will leave just the Credit Card button which will direct homeowners to Paylease or to your third party banking partner. For tips on changing the language of that Credit Card button, visit Customizing your Credit Card Buttons.
  • Note: Vantaca does NOT have a manual ACH file export. If you wish to draft owners using an outside bank, you will need to store and maintain the ACH information outside of Vantaca.
• Payment Imports
  Entering Payments can be imported with our Payment import or added manually on the owner’s ledger. See How To Import Homeowner Payments for details

In addition to the points above, associations with their primary banking relationship through a non-integrated bank will be missing out on efficiency in the following areas:

• Automated Bank Transactions
• Auto Reconciliation
• Automated Bank Statements
• Bank Transfers
• Vendor ACH
• Bank Returns
• Lockbox files