Most Affordable Ways To Accept ACH Payments Instantly

accept ach payments instantly

Automated Clearing House (ACH) is a money transfer method that allows you to send money from one bank to another, either internationally or domestically. It takes several days, usually 1-3 days, for funds to reflect in the recipient’s account. However, it is a safe way to transfer money from one bank account to another. Today I want to teach you how to accept ACH payments instantly instead of waiting for so long.

It is important to note that ACH transfers are different from direct deposits in that direct deposits only happen domestically while ACH transfers can happen both domestically and internationally. However, both transfers take several days to complete. The reason behind the delays is that money has to be put on hold to verify the source and the receiving bank to make sure that the sender has sufficient money to cater for the transaction.

The ACH money transfer process allows people to send large volumes of money, either debit or credit transactions, in batches. By the way, you might have performed an ACH transfer without knowing. There are various types of ACH transfers, payroll, and vendor payments. Financial experts argue that direct deposit is a type of direct deposit. Well, that is true since the process of transferring is the same as that of ACH transfers.

Is ACH Transfer And Wire Transfer Same

Most people get confused by the two processes and wonder whether ACH transfers are the same as wire transfers. The truth is that ACH transfers are different from wire transfers. Even though the two transfer methods require you to transfer money using the routing number and account number, they have several differences.

First of all, ACH transfers take between 1-3 days to complete. On the contrary, wire transfers complete within 24 hours. However, they attract fees due to the faster processing option. After all, the better the service, the more costly it is.

Secondly, money transferred via the ACH method stays pending for some time. In contrast, money in wire transfers is available for use as soon as it reaches the recipient’s bank or credit union account, irrespective of the destination country. Therefore, wire transfer is much better than the ACH transfer method if the funds are for emergency cases.

Unfortunately, wire transfers are not reversible. Once you initiate the process, then there is no reverse. ACH transfers are reversible, and you can cancel a transaction if you discover that you made an error. Therefore, you are unlikely to lose money via an ACH transfer as compared to a wire transfer.

Most Affordable Ways To Accept ACH Payments Instantly

accept ach payments instantly

People are always worried if customers can fraudulently get money out of their bank accounts if they know their bank details, such as the account and routing numbers. But can someone withdraw money with my account number and routing number? Some criminals can use your bank details to steal money from your business account, which is why you should opt for a payment processing company.

There are various ways you can accept ACH payments quickly. Such methods help you to save time that you could have wasted waiting. If you have a business, then there are payment ways you should consider. They include the following:

1) PaymentCloud

You can create an account with PaymentCloud for free online with just a few taps on your device. The company comes with high-risk specialization, and you can be sure that your payments will be very safe. You can open an account within 48 hours if you have a photo ID, a business checking account, and a voided check.

Once you open your account, you will get high customer support on various issues. However, the company does not disclose its prices publicly, and you cannot be sure how much you will incur in a particular transaction.

2) Seamless Chex

Seamless Chex is another platform to accept ACH payments from your clients without waiting too much time. The payment service is best for eCommerce businesses where you do not want to interact with customers one on one. Seamless Chex has three plans that come with different prices. You can have any of the three plans that the company offers to its potential customers.

The first category of Seamless Chex plans is called Paynote plans and is for businesses that have limited eCheck processing needs. The plans range from $14.99 – $19.99 per month. Again, they come with transaction fees ranging from 2% for the cheapest plan to 1% when you choose the most expensive one.

The second one, Seamless Chex plans (the name is similar to the company), is convenient for businesses that process a lot of eChecks. The fees range from $24.99 – $99.99 per month and have no per-transaction prices given upfront.

The final plan is the Seamless Merchant plan. It combines ACH payment processing with merchant services to aid credit card processing.

3) National Processing

National Processing is one of the famous companies that aid merchants in receiving payments with ease. If you have a small business, the platform can be very advantageous to ensure that your business transactions run as expected.  It helps relieve the stress and the lengthy process that comes about when you want to transfer money to someone else’s bank account to make payments. 

Interestingly, the company is one of the cheapest payment platforms since it charges low rates. You can only part with $15/month and $0.48 per transaction rate when using the service. Above all, the company has a good reputation when it comes to payment processing.

However, National Processing requires you to enter into a contract with them and charges early termination fees.

4) Stax By Fattmerchant

The platform is transparent in that you can see various costs to ensure that you do not pay anything extra. If you have an enterprise that processes a high volume of card transactions, then Stax By Fattmerchant is for you. The company has the Stax Pay software suite, which charges from $49/month.

The platform also has a transaction fee of 1% on every ACH transaction up to a maximum of $10. However, the payment service is only for US merchants. The only disadvantage of the platform is that it charges high monthly fees to offer its services.

However, the plan is very much suitable for businesses that accept large volumes of payments. All in all, the Stax By Fattmerchant has transparent membership pricing, next-day funding options, QuickBooks integration, and no early termination charges.

5) Dharma Merchant Services

Dharma Merchant Services is among the most transparent payment processing companies with interchange-plus pricing with no application fees. Furthermore, the company charges no annual fees, nor do you pay any monthly minimums. At Dharma Merchant Services, you can benefit from various programs, which include the following. 

i) MX Merchant

MX Merchant allows you to accept ACH payments at $25 per month with a $0.40/transaction through the same portal as your business’s credit card processing.

ii) Telecheck for Clover

The program allows you to use the services and part with a 1.5% + $0.20/transaction.

iii) Dharma/NMI Gateway

Dharma/NMI Gateway is the last program for Dharma Merchant Services and charges $10 monthly and $0.35/transaction to accept echecks. All the programs are good, but the best one for your business depends on your firmware.

6) Stripe

Almost every serious business person knows about Stripe. It is one of the most convenient payment companies that your business can use to accept a substantial amount of payments from your loyal clients. Again, Stripe has exclusive features that can suit any kind of business.

The company charges 0.8% of ACH debit transactions which are capped at $5. For ACH credit, you will part with $1 for each transaction and a $7 fee after each successful payment. For check processing, you part with a $5 fee per check.

One of the serious issues with Stripe is that it suffers from instability problems and can be risky to use with most businesses. All in all, Stripe has various advantages such as excellent international support, advanced reporting tools, and predictable flat-rate pricing.

7) Dwolla

You can get started with Dwolla very easily. As a customer, you need to create an account online, attach a funding source, and initiate a transfer. If you own a business, you can also get started easily online. The only cons with the company are that it does not accept credit or debit card processing. Also, the service is only available within the US.

Other Ways To Receive Payments

There are numerous free online checking accounts with no opening deposit no credit check from various banks that you can open to receive your business payments. If you have a small business, a business checking account functions better since most of them come with tools to help you manage your business. Again, the more you use your business account, the higher your chances of getting loans and lines of credit.

Final Words

Automated Clearing House (ACH) refers to the electronic money transfer process that allows you to transfer money between banks either domestically or internationally. Some examples of ACH transfer transfers include bill payments, direct deposit, and payroll payments. ACH differs from wire transfer in various ways, such as the speed of transfer, the ability to reverse a transaction, etc. ACH transfer takes 1-3 business days to complete.

Spencer Tierney is a writer and expert on certificates of deposits at His work has been featured by USA Today, MSN, SF Gate, the Los Angeles Times, NerdWallet and more. He earned a bachelor’s degree in English at UC Berkeley.