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The 4 Best ACH Processing Companies

E-commerce businesses will know the importance of providing a range of different online payment methods to their customers. You’re likely already comfortable with accepting payments from credit cards and debit cards, and even some digital methods such as Apple Pay have become very common ways to accept payments. But what about ACH payment processing?

While traditional checks have more or less disappeared these days, a new form of digital payment known as eChecks is becoming more popular. Using exactly the same information as a traditional check, funds are transferred via the ACH network, or Automated Clearing House network. For this reason, eChecks are also known as ACH payments. Read on to find out about the 4 top ACH processors.

What are ACH payment services?

Before getting into the best ACH processing companies, it’s important to define what exactly an ACH payment is. As previously mentioned, these are payments that are made by the ACH network, which is usually done in the form of an eCheck.

eChecks work just like paper checks – they use the same information to transfer funds from the customer’s account to the payee’s account. Of course, the customer will have to provide their payment details, which you can then input into your online ACH payment processing software to initiate the transaction. Bear in mind that these eCheck payments can take up to five working days to arrive in your account.

Dharma

Dharma is one of the best ACH processing companies and also one of the most widely used. Their simple processing platform allows you to both accept checks and to manually enter bank details for transactions. What’s more, you can use the software to set up recurring payments, and there is even support for in-person check acceptance and telecheck acceptance.

Dharma is one of the cheapest and most versatile options on the market for taking online ACH payments. However, it can be difficult to use Dharma if you operate in a high-risk industry, as they often do not serve these businesses.

PaymentCloud

PaymentCloud is one of the best ACH payment services for those operating in high-risk businesses, such as travel and gambling. Whereas other services tend to avoid companies like this, PaymentCloud in fact specializes in them. Setup is also very quick, and they claim to be able to get you up and running within 48 hours as long as you can provide them with all the appropriate information.

The downside of using PaymentCloud is that they don’t publicly disclose their prices. Since they work a lot with high-risk businesses, plans tend to be more bespoke, and so it’s difficult to make a one-to-one comparison with other companies.

Stripe

You might already be familiar with Stripe, a fintech company that also offers ACH payment services. If you’re a developer or have one in your team, Stripe is a great option as it can be customized by those who have the appropriate programming experience. There is great integration with your online payment portal, and you can also use Stripe to send invoices over to your customers.

Some account stability issues have been reported with Stripe. This makes it a bad fit for high-risk businesses, who would be better off going for PaymentCloud.

Stax

Anyone looking to take online ACH payments along with credit payments should consider Stax as their processing solution. The monthly costs of using this service are relatively high, but in exchange you get a really low fee for ACH transactions. This makes it a good option if you have a high volume of transactions, since you save more money by making more transactions with Stax.

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