Convoy Factoring, powered by Apex Capital, is a new payment service for carriers that provides same or next-day payment, with no hidden fees and no lock-in contracts. Convoy's continued focus is to help carriers earn more, and keep more of their hard-earned pay, while removing many of the day-to-day hassles of the job.
How do I set up my payment profile to get paid by Convoy?
There are three ways to get paid through Convoy. Carriers can either choose to receive direct payments from Convoy, receive payments through their factoring company, or sign up for Convoy Factoring. If you forget to complete your payment profile, Convoy will send an email with instructions to set up your payment profile after completing your first load.
Please remember, uploading a bill of lading (BOL) in the Convoy app is required to work with Convoy, regardless of how your carrier is paid.
Option 1: Set up direct payments from Convoy
All payments from Convoy are sent via direct deposit, free of charge! The standard payment term for Convoy shipments is 30 days after shipment completion and document approval. However, carriers are eligible to earn free Convoy QuickPay on every load and receive payments within 2 business days after document approval.
If your carrier prefers to be paid directly by Convoy please complete this payment profile form. You will need to log into Carrier Web with your phone number and enter the six-digit verification code to access carrier web. Once logged in, navigate to the menu button at the top right corner and click "payment profile". There you will be able to enter your payment information. Don't forget to click "save payment profile" once you are done! You can return to this page at any time to edit your payment information.
Option 2: Set up a Notice of Assignment (NOA) with your Factoring Company
Convoy will need an NOA on file in order to process past, present, and future payments to your factoring company. Please have your carrier or factoring company send a copy of your NOA to email@example.com.
NOTE: if at any point you want to start receiving payment directly from Convoy, we will need a letter of release (LOR) from your factoring company.
Option 3: Sign up for Convoy Factoring