Experience with TriumphPay?

Broker is offering Quickpay at 2% through TriumphPay. I know Triumph is a large factoring company but this service doesn't appear to be that but I'm weary. Anyone have experience registering for TriumpPay and can confirm this place is legitimate and not some trap to get carriers signed up for their factoring?

 

I don't know how to make it into a link, but go to the search bar and put in Triumph Pay.

Someone said their terms of usage are that you agree to not go after the broker's Bond...

But use the search bar to read it completely.

 

I use every day. I deliver for a broker that pays by Triump Pay and it works good. I deliver a $700 load on Monday, by Tuesday I get paid $689 and it would be Wednesday by the latest for payment.

It's just a payment service for broker's. Carrier's are not on the hook for any factoring contracts

 

I recently created an account with them because two brokerages I deal with use them as their third party billing service. At first I was hesitant because their TOS read as though I would waive my right to the broker's bond in case of non-payment. However, my lawyer has clarified that would only apply after the invoice was paid in full.

I don't factor nor do I use any quickpay features so I cannot speak about those specifics but so far I like all the details I've been getting through my account page such as payment release date, check numbers, invoice acceptances etc etc. So far, so good.

 

Thanks everybody for your help, will get signed up with them today.
One last question, on my rate con it days to submit my BOL and rate con to the brokers email as usual. Using triumphpay will they also require me to be sending in the same paperwork to them, through their app I assume?

 

I had this question as well and I was advised to follow the procedures outlined in your Agreement and/or rate con. Apparently, the larger brokerages will use TriumphPay's portal for paperwork while the smaller brokerages want them sent to them directly.

 

Once you sign up its like pulling teeth to get them to go away

 

A broker I used paid through them with 2% quick pay. It ended up being a pretty good service to be honest and for 2% I'll actually use quickpay. Once it gets above that though I'll normally just wait for the check.
I get so many calls looking for trucks or trying to sell ######## I don't even answer anymore unless it's a broker I recently pulled for.

 

I've got about 8 brokers that I work with that use Triumphpay. I've never had a problem.

I do not factor.

 

A couple brokers I've hauled for use them. You can submit documents to the Triumph dashboard, and they will forward it to the broker. But I've never done that. I just submit to the broker like normal, and then they pay through Triumph. Once I finish the carrier packet, Triumph will email and ask if I just set up a new relationship with this broker. Once I say yes, it's all done. Pay still goes directly into my bank account.