How to accept ACH payments as a Business

There are no monthly fees, but the transaction rates increase depending on the features available on your chosen subscription plan. Stripe allows you to accept ACH payments through your online payment portal just like you would a credit card. It can integrate into your website or into any site that uses a Stripe payment processor. ACH offers an attractive payment alternative to credit cards for both businesses and consumers. This is particularly so when paired with tools to overcome some of its weaknesses and mimic an instant payment experience.

• Customers can now connect their bank accounts for ACH payments in a matter of seconds.
• National Processing also offers a robust ACH service that does everything you’d expect from an ACH processor, and that makes paying your employees a breeze.
• Small businesses would likely use standard or starter plans that included ACH payments, while large corporate businesses are most often on custom plans based on transaction volume.
• If processed after this time, ACH payments will take 2 business days.
• Think outside the box and focus on what might motivate customers the most.
• By providing feedback on how we can improve, you can earn gift cards and get early access to new features.

How to Accept ACH Payments Online

Before initiating ACH transactions, you must obtain authorization from your customers to debit funds from their bank accounts electronically. This can be done through various means, such as obtaining written authorization forms, electronic signatures, or consent checkboxes on your website or payment portal. If your business already takes credit cards, check with your processor to see if you can enable ACH payments. ACH payment acceptance is a low-cost alternative to credit card processing and is the preferred method by many consumers. Indeed, the National Automated Clearing House Association (NACHA) reported that ACH payments increased by 6.3% in the second quarter of 2024 for 8.3 billion ACH transactions.

Helcim: Best Virtual Terminal for ACH Payments & High-volume Transactions

Accepting ACH payments will add another payment method for your small business customers. In other words, a transaction in which you receive ACH payments is known as a direct deposit. This may likely be recorded on your bank statement as an “ACH credit,” which means you’re receiving money from another party. The ACH network is QuickBooks tightly regulated, connecting US financial institutions with many layers of security. There are clearly defined reasons for disputing ACH charges compared to credit card charges, which can be disputed for any reason. The full process typically takes between three to five business days, including transaction verification and funds clearance.

Encourage All Customers To Pay By ACH

EChecks are one of the most popular ways to make recurring payments. Bookkeeping for Veterinarians They help you create reliable revenue, and you can just set them and forget them! If your customer has authorized a billing schedule, you can use PaySimple to invoice them automatically. Accepting payments is just one aspect of running a successful online business. You also have to worry about things like having an attractive web design, hosting your site and growing your audience with effective online marketing. To get a better idea of what you need to step foot into the world of e-commerce, check out our guide to setting up your own online store.

QuickBooks Online: Best for QuickBooks Online Users

• Payment processing can encompass a wide range of methods, including credit cards, debit cards, electronic checks, mobile payments and digital wallets.
• Providers serving the high-risk community can often set you up with specialized ACH processing services that come with advanced anti-fraud and chargeback protection features.
• Your bank will then send ACH payment instructions to your customer’s bank when the payment is due.
• Our unbiased reviews and content are supported in part by affiliate partnerships, and we adhere to strict guidelines to preserve editorial integrity.
• It isn’t the most transparent company, though it does make it clear it won’t publish rates on its website.
• Credit and debit card processing might be convenient, but it often comes with high flat fees per transaction.

An ACH fee cap is a way to prevent ACH fees from going over a certain amount. It’s vital that your best way to accept ach payments payments provider support fee caps as without them, fees can get outrageously expensive—especially for large transactions. If your platform manages merchants, these fees can also cause bad experiences and lead to higher customer churn.

Obtain your payment details.

• The Automated Clearing House (ACH) network transfers funds quickly and securely, making it ideal for business transactions.
• It typically takes one to two days to process ACH payments, but some providers like Zelle make funds available instantly.
• Just as a customer must authorize you to cash a paper check by signing it, they must also authorize you to make an ACH (eCheck) withdrawal.
• Our mission is to equip business owners with the knowledge and confidence to make informed decisions.
• If you need to cancel a payment, you can do so before 5 PM that same day by selecting ‘Void’ in PaySimple.
• Whether you operate a small e-commerce venture or a large-scale enterprise, understanding how to integrate ACH payments into your payment processing system can unlock a myriad of benefits.

Another way to incentivize customers to pay with ACH is to offer a bonus. This can be in the form of a one-time discount, cash-back reward, or store credit. Such is the approach of Catch, an ACH-based shopping platform that offers store credit in exchange for paying by ACH.