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Ask HN: What's the best way to accept recurring $5-20K/mo payments?
I was wondering what's the best way to accept high value recurring payments like that(can't very well use paypal or credit cards).
- baberuth 16y agoACH if you don't want to get ripped up on transaction fees.
- baberuth 16y agoTo be a little more helpful: Basically for ACH you get charged per transaction. http://www.achq.com/lz/ach-processing-solutions.php http://www.achq.com/lz/ach-processing-solutions.php says $.25/transaction, though I've heard that you can find as low as $0.04/transaction.
- Osiris 16y agoI assume you'd want to do automatic bank withdrawal like my mortgage company does each month.
- lowprofile 16y agoHow many payments? Are they really going to be every month or are you going to be at the mercy of an A/P department? My experience, the best way is to go the primitive route and get a hard check that you can deposit manually if there are not too many of them, though I hope you have too many. The reason is that entities hate to pay this kind of money and there are always issues (late or checks that are light etc), so having as much traceable, physical data is huge. This does not scale well but for a smaller entity it actually works quite well.