For many businesses, using ACH payment processing can be an excellent solution. Not only is it more cost-effective, but it’s easier to track finances and can be automated.
Cost-effectiveness
With credit card processing, you can pay up to 3.5% transaction fee, plus $0.10 to $0.30, depending on whether a credit card is present. Most ACH payment fees are much lower, and many companies limit the amount you pay. You may see a minimum fee of $1 per transaction or a fee cap of $10, but generally speaking, fees are around 1%.
Easy to manage
Because ACH payments go directly through your bank, you can easily track your sales on your bank statement, and your customers can easily track their payments. Even if the ACH payment processing company doesn’t allow you to export data reports, you can easily find them in your bank profile.
automatic payment
If your business offers recurring services or products (such as a subscription box or monthly service), you can easily get paid each month with ACH automatic payments. Often, payment processors will provide a way to send payment reminders so customers aren’t surprised when it’s time to pay.
