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Have you looked in to Balanced Payments? They enable ACH transactions at 1% + $.30 capped at $5.
by chrisduesing 12y ago
Have you looked in to Balanced Payments? They enable ACH transactions at 1% + $.30 capped at $5.
- joshstrange 12y agoI've used Balanced Payments before but they didn't have the $5 cap. I can confirm they now offer it but do you know when that started? My googling hasn't turned up any blog posts, currently going through all of their posts.
- chrisduesing 12y agoI can't say when they started, but we've been using it for our marketplace for a little over 6 months and it has been capped the whole time.
- joshstrange 12y agoThanks! I looked through their blog archives but didn't see anything.
- jkurnia 12y agoWe haven't investigated Balanced Payments specifically - thanks for the tip! We did experiment with offering ACH payments via a different service (Check Gateway) a couple years ago. We discontinued that, because the automated address and other verification checks required for online ACH authorizations blocked many legitimate payers, such that it cost more in declined payment fees and hassle for our lenders than it saved in transaction cost. Also, almost half of our lenders are outside the US.