You’re tired of waiting weeks for paper checks to arrive in the mail or watching stacks of payments pile up on your desk.
You’re interested in finding an easy way to accept and send payments online, but it’s uncharted territory for your business, and you’re not sure where to start.
The answer is simple: ACH payments.
ACH stands for “automated clearing house,” which is a network of interconnected computers that communicate to send and receive funds electronically.
In this blog, we’ll discuss how to set up ACH payments, how the process works, and what you need to know about ACH payments for your business.
Why Choose ACH Payments?
Compared to wire transfers, ACH payments are safe, secure, and affordable. While wire transfers can cost $30 or more per transfer, ACH payments are inexpensive and ideal for high-volume businesses in high-risk industries.
Plus, ACH transactions are easy to initiate, especially when you use a third-party provider like Seamless Chex. Here are a few of the benefits we offer customers:
● 99% approval rates. If you’re in a high-risk industry, it can be difficult to find providers that will offer ACH payment services. At Seamless Chex, we specialize in working with high-risk and hard-to-place merchants and are proud to offer 99% approval rates.
● Smart integrations. To make running your business even easier, we offer a handful of smart integrations, including Shopify and WooCommerce.
● Bulk upload. Save time by uploading customer information in bulk and storing payment methods for future debris. This makes for faster, easier, more accurate billing and quicker payment for your business.
● Enhanced Verification. Instead of handling customers’ accounts and routing numbers, using Seamless Chex allows you to send customers payment links, where they can connect their own bank account via Plaid. Inevitably reducing returned checks.
Wondering how to start accepting ACH payment for your business? Follow these steps:
1. Create a payment link. If you’re using Seamless Chex, initiating an ACH payment is as easy as creating a payment link to send to your customers or embedding it on your website (code-free). This payment link can be left blank or include the payment amount.
2. Customers Securely Connect Bank Account. Once the customer receives the link, they can connect their bank account via Plaid, which offers secure, credentialed login. Alternatively, the customer can enter their routing or account number directly.
3. Get paid. As soon as the customer inputs their payment information, they’ll be able to send the payment directly through the ACH provider. While typical ACH processing times are 2-3 business days, Seamless Chex offers same- or next-day funding, so you’re never left waiting for payment.
ACH Payments: The Future of Your Business
Accepting paper checks is time-consuming and inefficient. It can also lead to long delays between when your customers issue payment and when you receive it.
Fortunately, ACH payment processing for small businesses is a smart way to bridge the gap.
By issuing electronic payment links and allowing your customers to input their own bank account information, you can streamline the payment process and remove roadblocks that may delay the payment process.
Here at Seamless Chex, we help businesses in high-risk industries access intelligent, adaptable ACH payment services with same- or next-day funding. Learn more about our ACH services and 99% approval rate today.