When choosing an ACH payment processing company for your business, it’s important to consider pricing, integrations and features. There may be options that cost more, but the features make it worth it for your business, or a low-cost processor may not give you extras, but maybe you don’t need them.
Look at contract length—some payment processors allow month-to-month billing, while others may require up to a three-year contract. If you’re fine with a long-term contract, read the fine print to find out how much it may cost for early termination. As far as transaction fees, you’re going to find that they’re much lower than credit card processing. Most ACH payment fees hover around 1% or slightly higher. And many companies cap the fee at a certain amount. Also, if there’s a monthly fee, be sure to find out what that monthly cost covers and compare it to others that may not have one.
Being able to connect the software you already use with your payment processor can be helpful, such as with your accounting software. Other integrations can also be useful, including your POS and customer relationship management (CRM) app.
Most ACH payment processing companies are primarily credit card processors, so you’ll usually be able to run customer and sales reports or export data from your account. These are helpful features for business decisions and predicting future sales and necessary for bookkeeping or accounting. If you don’t already have an invoicing solution, look for an ACH payment processing company that offers an invoice generator.
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August 29, 2022 at 09:00PM
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Best ACH Payment Processing For Small Business (2022) - Forbes
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