Introducing ACH payments

This article contains information about ServiceCorePay's newest offering- ACH payments. The guide will cover the basics around ACH, how to set up ACH payments and how to accept ACH payments from your customers.

What is ACH?

An ACH is an electronic fund transfer made between banks and credit unions across what is called the Automated Clearing House network.

Customers can pay invoices by entering their bank account and routing number. You will get confirmation of the payment immediately, and funds will be deposited into your bank account in a couple of business days.

ACH allows you the benefit of electronic payments, reducing the need to physically pick up paper checks, while being significantly cheaper than credit cards to accept.

What is the cost?

ACH is significantly cheaper than credit cards to accept. ACH payments run just at 1% . Compared to credit cards this will save you money on the processing fees, while making sure you can control your cash flow by using electronic payments.

If we take the standard credit card pricing for our Grow plan (3%):
$1000 transaction 
Credit card fee - $30
ACH Fee - $10 - Saving $20!

If you process a larger transaction, the saving is even more significant:
$15000 transaction
Credit card fee - $450
ACH fee - $150  - Saving $300!

How long until I receive my money?

ACH processing takes a little bit longer than a standard credit card payment to clear. You will get confirmation on the payment day one, but the funds will be available in your bank account after 3-5 business days.

How do I set up ACH payments in my account?

ACH is currently only available for select customers before our full release. Through our ServiceCorePay integration (powered by CloverConnect).

If you are already a CloverConnect customer, and are interested in learning more, please reach out to davidm@servicecore.com

If you are not currently a CloverConnect customer, please reach out to servicecorepay@servicecore.com and we will connect you with a representative to learn more about the benefits of ServiceCorePay.

Here is a useful guide on how to sign up for ACH payments

How can I accept ACH payments from my customers?

You can accept ACH payments from your customers in all the ways you currently accept credit card payments. All you need to do is collect their banking information, and enter it into the system.

Or have the customer pay the invoice online using their banking information

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