Any business owner wants to improve their bottom line. One way to do this is by improving your credit card processing fees. Depending on your industry, one avenue is ACH or Automated Clearing House. ACH is a network for electronic payments from one bank to another, favored especially by those who need recurring payments.
What are ACH payments?
Customers allow the business to access their account information to automatically withdraw funds at a predetermined time. ACH payments are generally used for revolving things like mortgage and car loan payments, utility bill payments, and phone bill payments, or subscription services.
Benefits of ACH payments
Improved cash flow – No longer waiting for payments to come in or chase down past due accounts.
Convenience – Improving the consumers’ experience by lessening the hassle of customers needing to authorize or initiate each payment.
Improved Accounting – Gone are the days where you would struggle managing paper invoices. Each electronic invoice is created automatically, making the reconciliation of invoices a breeze.
Better Processing Fees – ACH Payment Processing is less costly than a credit card. There are a few options on ACH set up but businesses can expect to pay a small monthly fee with a per-transaction fee OR a set percentage with a per-transaction fee.
Easy Set-Up – Super easy to set up with the customers’ banking information. By adding their information, customers can pay invoices at any interval. The payment will be automatically taken from their account ensuring the payment is made on time. Customers no longer need to deal with invoices and manual payments.
No More Expired Credit Cards – Credit cards expire and usually, people are going to forget each account that is tied to that specific card, or maybe the card was stolen so new card numbers would need to be generated. By going the AHC route, there won’t be a need to track down updated information saving you time and money.
How Can ACH Payment Processing Help My Business?
When payment comes due, your bank will send a request to the customers’ bank to being the transfer the funds with automatic invoicing. ACH is great for recurring bills or setting up autopay, however, it can be used for one-time purchases as well. ACH not only saves your business money, but it also saves on time.
How Do I Get ACH Payment Processing?
Schedule with a payment professional to review your merchant account and find out where we can help your business be more efficient and profitable. We assist you from setting up to troubleshooting, we will make sure that everything is on point. The software will allow you to set up payments via online website, email, in person, or over the phone with ease. More payment options mean happier customers.
