If you’ve been waiting a while to turn on native support for automated bank account payments (ACH) then you should be excited to hear that it’s now available! ACH payments via Stripe (yes you do need to have Stripe integration turned on and verified) have significant advantages over accepting traditional credit card payments in the form of lower fees.
According to Stripe, “ACH payments on Stripe cost 0.80%, capped at $5, with no monthly fees or verification fees!” These can be significant savings if you’re used to collecting on invoices in the high thousands.
To turn on ACH payments you’ll need to follow these simple steps:
1. Go to Account > Payment Integrations. Make sure you have Stripe payments enabled and connected.
2. Now go to any client and click on their “Payment Profile”. Choose the “Add Bank Account” option. If the client is paying for an open invoice, they’ll also have the option to add their bank account.
3. When a bank account is added, it will be verified through 2 small deposit amounts. This might take a few business days to process so please be patient! Once verified, future charges will be swift and can also be added to a recurring schedule as part of your automated billing.
Keep in mind that ACH payments are still in beta so please pass along your feedback!