Enabling ACH Debit Payments for Invoices

You can now offer ACH Direct Debit as a payment method for one-time invoices, Text2Pay links, and recurring invoices, including automatic payments.

Important Details:

ACH transfers usually take between 5-6 business days to complete. Until the bank confirms the payment, the status will remain as "processing."

Availability and Costs:

ACH Direct Debit is offered for Stripe accounts in certain countries. You can check availability by visiting Stripe's country listing section.

Note that ACH Debit transaction fees may vary from standard card processing rates. Visit Stripe’s pricing page for up-to-date information.

ACH Direct Debit Payment Process:

• Customer approval of payment terms is mandatory.

• Bank account verification is required prior to accepting payments.

Transaction Settlement Time and Failure Issues:

ACH transactions do not happen instantly and may take 4-5 business days for bank confirmation.

Invoices paid via bank transfer will show a “Payment Processing” status, which will update to either "success" or "failed" after bank confirmation.

Payment failures may happen because of issues like insufficient funds, incorrect account numbers, or the customer canceling debit authorization.

Account Verification and Authorization Mandates:

ACH Direct Debit requires customer consent via a mandate outlining the payment terms. This consent must be secured before collecting payments.

Mandates appear on the payment page to streamline the payment process.

Frequently Asked Questions (FAQs):

Can users manually input bank details? No, manual entry isn’t supported. We use Financial Connections for secure and seamless data sharing.

Will the US Bank Account option be available alongside Apple Pay and Google Pay? Yes, customers will have access to Cards, Apple Pay, Google Pay, and US Bank Accounts, depending on their region.

How can I disable the US Bank Account payment option? Although it’s recommended to offer all payment methods for better conversions, you can disable the US Bank Account option by navigating to Payment Methods in the Stripe Dashboard. This update allows for greater flexibility and a more diverse payment experience for customers.