5 Tips to Accepting ACH Payments Online

5 Tips to Accepting ACH Payments Online

The Automated Clearing House (ACH) mode of payment has increased in popularity as more and more businesses have started using it as either their primary or secondary mode of payment. The good thing about this mode of payment is that it works very well for business as it does not allow a reversal. Setting up your business to receive the ACH payment online is not that hard and with a few steps, you can accept ACH Payments online.  These are the few tips which you need to know.

  1. Look for right Merchant

This is the first step is to look for the merchant who will set up your ACH account. There are many merchant companies which set up this account. Before looking further it’s important to start with the bank where you already have an account with. When looking for the suitable merchant it’s always considering taking quotes from at least three merchants to get the best quotes.

  1. Fill out the paperwork

Once you have found the right merchant that you are willing to work with then you have to fill out your application. You will need to fill up the form for signing up for your account and you can opt to do this online since the application forms are available online. You will set your bank as the default receiver.

  1. Authorization

The other thing which you need to do to accept ACH payment is that you have to get authorization from the customer. This is just like any other form of payment which is done where the customer will have to accept that money will be taken from their account. The authorization in most cases is in form of a signature but it can also be obtained over the phone. If it’s an e-check, then it has to be signed before it can be sent over, as for ACH a form with signature has to be presented.

  1. Mode of payment

The mode of payment you set up the ACH will depend entirely with your business or the target customer who you are looking to reach. To accept the payment you can set your account to be only direct transfers. This is when you have the only bank to bank transfer. Most business prefers the all in one payment method. This is where the business can accept any mode of payment as long as it verified. This may include; e-checks, credit card, bank to bank direct transfer. The benefit of this is that there are more than one avenue of getting paid.

  1. Payment Processing

Before you can have access to the funds paid over the ACH online method, the amount has to be processed and this will depend on the mode of payment used. For credit card, it may take at least 3 days. The one thing which is certain about ACH payments is that it’s much slower as the transaction has to be carefully reviewed then processed. The good thing is that this method of payment is secure.


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