Introducing ACH Debit as a Payment Option for Invoices

Now ACH Direct Debit is available as a payment method for one-time invoices, Text2Pay links, and recurring invoices, including auto-payments.

Key Information:

• ACH bank transfers typically take 5-6 business days to settle. During this period, the payment status will be displayed as "processing" until it is confirmed by the bank.

Availability and Pricing:

• ACH Direct Debit is available for Stripe accounts in specific countries. Refer to the country availability section on Stripe's website.
• Please note that Stripe pricing for ACH Debit transactions may differ from traditional card transactions. For the latest pricing details, visit the Stripe pricing page.

Payment Flow for ACH Direct Debit:

1. Customer authorization for payment terms is required.
2. Bank accounts must be verified before accepting payments.

Settlement Timing and Transaction Failures

• ACH transactions are not real-time; it may take 4-5 business days for the bank to confirm the payment.
• Invoices paid using bank transfer will move into a "Payment Processing" status and will be updated to "success" or "failed" after confirmation from the bank.
• Transaction failures can occur due to reasons such as insufficient funds, invalid account numbers, or a customer disabling debits.

Verification and Mandates

• ACH Direct Debit requires customer permission through a mandate specifying payment terms. The customer must agree to this mandate before payments can be collected.
• Mandates are displayed on the payment page for a smooth payment process.

FAQs:

Can leads enter bank details manually?

No, manual entry is not available. We currently use Financial Connections for secure data sharing.

Will the US Bank Account option coexist with Apple Pay and Google Pay?

Yes, all options will be available. Customers can choose from Cards, Apple Pay, Google Pay, and US Bank Accounts based on their geographical support.

I don't want to show a US Bank Account as a payment method. What do I do?

While we recommend keeping all payment options for higher conversions, you can disable the US Bank Account option in the Stripe Dashboard under Payment Methods. This enhancement provides more flexibility for payment methods, ensuring a seamless and diverse payment experience for your customers.