Can You Pay Ach With Credit Card?

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Some credit cards - Can You Pay Ach With them?

Whether you run an online business or are shopping on a store website, you know there are multiple ways to make a payment. As a business owner, you offer up different options for your customers to pay for their orders.

As a customer, you get to select which is the best method for you to pay for whatever you are purchasing. Now you may ask yourself the question, can you pay ACH with a credit card? Read on to find out this and more!


Is this the Best Way to Do it?

ACH payments or Automated Clearing House payments are basically direct transfers, and these transfers are a popular way to pay for items and services purchased online. This implies a transfer from one bank account to another.

It’s unique in that there are no extra steps involving cheques, cash payments, or credit cards. These transfers go through the Automated Clearing House network and show up as direct deposits on any account.

As you can tell, ACH payments and credit card payments are different, so you technically make an ACH payment with a credit card.

ACH payments take the money from a bank account and not a card. However, ACH on its own is a great, easy, and safe way to make payments.


Is it a Safe Option?

ACH payments are one of the safest options for making online payments due to multiple reasons. Firstly, all the transfers go through the Automated Clearing House network.

This network is strictly regulated with enforced rules, so you will know your payments are going to arrive.

This network will also keep all the involved bank account numbers confidential, so you will not be at risk of your information being stolen. The same cannot be said for cheques and credit card payments which are at a much higher risk of fraud and theft.


Do You Have Additional Costs for it?

The costs can vary for ACH payments but are mainly a small amount. The median cost for the processing of ACH payments is around $0.30.

Of course, the total cost associated with making and accepting ACH payments will vary according to the website host, the amount of total purchase, and a few other factors.

However, this fee will usually remain small, especially when compared to the processing fees of credit card payments. If you are a bigger business and accept a large volume of ACH transactions, then these fees will be less for you.


How Fast is It?

ACH payment processing times will vary, but these payments usually take a few days to process. Typically this whole process takes about three to five business days.

This may be one of the few downsides to ACH payments since credit card payments only take up to 48 hours to process. The authorization for a credit card payment is done immediately, but it takes about two days to move the money from one account to another.

However, there is a faster option for ACH payments. Same Day ACH payments take only a day to process. The money is processed and transferred on the same day, which is great if you require a faster transfer.


What Should You Know About It Before?

If you are an online business receiving an ACH payment, you will receive all the required information when setting up your eCommerce store. You will be required to input the routing number to your bank as well as the account you will want to transfer money to.

You may also be required to sign an ACH authorization form; however, this varies, so it won’t apply to all businesses.

There isn’t a lot of information we can provide you with since the whole process will be different according to a few factors, including your bank, your website host, and more. But setting up a transfer isn’t difficult, and you will get it done in no time.


Final Thoughts on Paying ACH With a Credit Card

ACH payments are a method of sending and receiving payments that have multiple benefits, most importantly security. Through confidential payments, you can be sure your information won’t be exposed anywhere by anyone.

If you are setting up an eCommerce store, make sure to include this as a payment method, your customers will surely appreciate it and use it often!