ACH Accounts for Echeck Payments
ACH accounts are the most economical method to accept check payments. Millions of Americans regularly purchase goods & services with ACH echecks.
ACH merchant accounts offer you the lowest rates for electronic check processing. And, same day ACH payment are now available which dramatically decrease the time it takes to process transactions. More than 95% of American households have bank accounts and can pay you through an ACH merchant account.
The downside of ACH echecks is that revoked transactions (chargebacks) need to stay under 0.5% to keep an ACH merchant account in good standing. And returns need to be less than 15%. Many standard and high risk merchants have challenges maintaining these ratios, which are mandated by NACHA.org, the governing body of the ACH network.
Still, if you can comply with the ratios, ACH merchant accounts are the way to go. Lower rates combined with faster processing times make ACH echecks great for eCommerce.
And with same day ACH, transactions clear fast. Ecommerce merchants can now ship products within 1 day. Much quicker than ever before. These days, there’s no reason for eCommerce merchants not to accept checks online. The more payment methods you offer, the more sales you make.