Applications

A UPIC initiates ACH credits or wires (future) for business-to business transactions via any cash management or accounts payable system.

UPICs can be used to ease company mergers or restructuring. If your receivables accounts have UPICs assigned, then it is easy and transparent when you redirect the funds going into those accounts into the new post-merger accounts. The change happens in the background and trading partners don't have to be bothered.

Since multiple UPICs can point to a single account, you can use UPICs to set up a sub-accounting structure for easier tracking of funds from different business lines or regions without having separate accounts.

If you receive funds from consumers through home banking applications, provide the UPIC and universal routing number to home banking processors to receive those payments electronically.