ACH payment processing for businesses

Funds move from one bank account to another with the help of a secure, centralized system managed by NACHA (the National Automated Clearing House Association). To complete payments, the organization requesting a payment needs to get four key bank account details from the other party involved-whether they're sending or receiving funds:

1. The name of the financial institution (bank or credit union) where funds are being sent
2. The type of account at that bank (checking or savings)
3. The bank's ABA routing number
4. The recipient's account number

With this information, payments can be created and routed correctly. And if billers have been authorized to make recurring withdrawals directly from a customer's account, they'll need these details as well.

With millions paying and getting paid on the BILL network, getting up and running with ACH is fast and easy. Easily search and find vendors in the network, and get them paid in just a few clicks. No need to track down a cancelled check or go through a lengthy vendor onboarding process.

The ACH network is federally regulated, and is currently overseen by the National Automated Clearing House Association (NACHA). NACHA is a non-profit organization that helps enforce a strict set of controls and procedures for all parties paying with ACH.

Additionally, BILL is designed with your privacy and security in mind, providing various levels of controls in the following categories to help guard your money and sensitive information. The platform keeps your bank account information private from vendors by making digital payments through your account.

When you pay with a credit card or paper check, it can take anywhere between a week to 30 days for that payment to actually leave your bank account, leaving you juggling cash flow.

With an ACH transfer, the debit is reflected on your account immediately, so there's no guessing game. You're able to schedule ACH transfers for specific dates, or as recurring payments, for clearer visibility into and greater control over your cash flow.

ACH can help you get paid faster, too. Your customers can authorize you to deduct an amount from their bank account, and within a day or two, that money lands in your organization's account-no waiting for checks or following up.

Plus, you can set up recurring customer payments-a good move for your business cash flow. These allow you to make an automatic deduction from a customer's bank account on a set date. Recurring payments help to ease the customer's burden of remembering to pay you, and you don't need to worry about following up.

ACH transfers are easy on the wallet—particularly if you're paying a BILL flat fee per transaction. When compared to other types of payment, ACH payments are more cost effective. Credit card fees can add up if you use cards to pay or get paid. Either you pay in transaction processing fees if you're collecting money, or you risk APRs if you use them for payments.

Paper checks cost the most to use when you factor in the time, supplies, and bank fees. While an ACH payment fees are low, a check can cost $5 or more to get out the door. If you process 20 checks a month, you'd spend $1,200 a year just to process those checks! If you opted for ACH payments instead, your processing fees would be far less. Please refer to our pricing page for fee details.