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Why GoCardless is the easiest way to collect ACH Payments

Rob Keating
Written by

Last editedJul 20222 min read

Six reasons why you should be collecting payments with ACH Debit via GoCardless.

Introduction

ACH Debit is quick and easy to set up with GoCardless, meaning you can start collecting payments from your customers within 30 minutes of signing up!

ACH Debit has lower transaction fees and enjoys higher payment success rates compared to the relative expense and high failure card payments.

Furthermore, ACH Debit via GoCardless makes late payments a thing of the past, significantly reduces the amount of financial admin required, and is easy and secure for your customers.

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

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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.

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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

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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

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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

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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

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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!

Why don't you join them?

Eliminate late payments and save time, money and stress collecting payments from your customers with ACH via GoCardless.

Get Started with ACH Debit Today!

Interested in automating the way you get paid? GoCardless can help

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