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(I work on Standard Treasury) The first one is definitely something that will happen once a bank partner of ours launches the white labeled service. Electronic
by zt 13y ago
(I work on Standard Treasury)
The first one is definitely something that will happen once a bank partner of ours launches the white labeled service. Electronic checks (ACH) are usually a flat, several cents, fee.
Unfortunately, debits are likely going to require some sort of verification.
- tbrooks 13y agoI feel like you, ST, should be able to pass that liability to the company using the API. Maybe make them put $1mm in escrow or something. I know of a few organizations that don't require verification for ACH debits.
- quintinsykes 13y agoMy guess is that when he speaks of 'verification' it's more in the context of underwriting the originator of the transaction for fraud/creditworthiness vs. ensuring the account being debited is valid.
- tbrooks 13y agoThat's correct.
- oldgregg 13y agowhich companies currently let you do it?
- tbrooks 13y agoNo APIs that I know of, but there are several companies in my vertical (donations) that do this. This is one: http://www.acceptiva.com http://www.acceptiva.com