Why GoCardless is the easiest way to collect ACH Payments
Last editedSep 20222 min read
GoCardless makes it quick and easy to set up ACH Debit - you can start collecting payments from your customers the same day you sign up!
Merchants who collect payments through ACH Debit via GoCardless:
pay lower transaction fees
enjoy higher payment success rates
have significantly fewer late payments
have a significantly lower level of financial admin
make it easy and secure for their customers to pay them
1) It's Now Easy To Collect Payments via ACH
No complicated set-up is required with GoCardless
GoCardless has made it quick and easy to start collecting payments from your customers via ACH Debit. The only things required to get started are a US bank account and a free-to-set-up GoCardless account.
You can be up and running in just a few minutes, with the user-friendly merchant dashboard enabling you to quickly and easily set up payments in just a few clicks.
Inside the dashboard, you can schedule payment collection on a specific date of your choosing. Those payments are then regularly pulled from your customer's bank account on due dates without you having to lift a finger!
"We were ready to go within 24 - 48 hours, it was very, very easy." - Lee Drayton, Managing Director, LD Fitness
2) End Late Payments Through Automation
With GoCardless, you'll never wait for payments again!
Research by Quickbooks has shown that 78% of mid-sized business owners are stressed about late customer payments and the impact of that late payment on business growth due to the significant time and money costs of recovering these outstanding payments.
GoCardless has been able to almost entirely eliminate the late payment issue by enabling merchants to collect payments automatically on scheduled dates.
To collect payments from any customer, you can simply schedule the payment for your required date and notify your customer in just a few clicks.
Once your customer has approved the ACH Debit mandate, no further action is required. The funds will be pulled automatically from the customer's bank account on the scheduled date.
This means no more chasing late payments as you get paid on time, every time!
Research has shown that 78% of SMEs using GoCardless have reduced average debtor days and that GoCardless merchants get paid 47% faster than the average SME.
"Overdue invoices are virtually non-existent, and that makes us happy!" - George Ford Director, Veriphy.
3) No More Chasing Late Payments
Save time chasing payments
Late payments, as well as having a negative effect on cash flow, also present a time cost to small businesses.
Findings in a Quickbooks survey highlighted that small business owners said that late payments impacted their ability to grow their business due to the significant amounts of time taken up by chasing late payments.
According to research, small businesses spend an average of 30 hours a month chasing late payments.
However, GoCardless small business users spend only 2.6 hours per month managing late or failed payments - 90% less time than the average business!
"This has saved us a whole person's salary." - James McGlade, Founder, Growth Alliance
4) Cheaper Than Card Payments
GoCardless merchants enjoy low transaction fees
Credit card transaction fees can be over 3x more expensive than GoCardless!
On average, credit card fees range between 1.5% - 3%, but exactly how much you'll pay will depend on your card network & your specific fee structure.
Not only is GoCardless cheaper, but also provides pricing transparency.
Accepting a $500 credit card payment will cost a merchant between $7.50 and $15.
However, with GoCardless that same transaction costs just $2.50.
"Not only has GoCardless given us much more freedom when it comes to collections, but it has also saved us money." - Lee Drayton, Managing Director, LD Fitness
5) Reduce Time Spent on Financial Admin
Save time on tedious manual admin
Payments admin, such as raising and sending invoices, bank reconciliation, and credit control, take up a lot of time as well as being tedious and expensive for businesses.
However, businesses using GoCardless can automate payment collection, reconciliation, and other tasks, spending 59% less time than the average business managing payment admin.
"Automating payments for a fraction of the cost of card payments is a massive win for us." - Lee Mellon, Head of IT, Cripps & Co
6) Super-Simple to Get Started With GoCardless
Free to get started, simple to set up payments
There are no setup costs or contracts required to start using GoCardless. The user-friendly merchant dashboard makes it super simple to set up payments in just a few clicks.
You can take advantage of our pay-as-you-go pricing to create your account and start onboarding customers today. Click here to get started.
"The simplicity of GoCardless was just a wonderful, wonderful surprise. It is brilliant." - Matt Zina Principal, Matt Zina Acting
Summary: GoCardless Makes Life Easier
GoCardless customers save stress, time, and money
GoCardless merchants collecting payments via ACH Debit:
pay lower transaction fees
get paid quicker
save time on financial admin
save time chasing late payments
enjoy better cash flow
experience less stress in their business!
