ACH Payments: Top 7 Processors For Small Business - YouTube

Did you know you can save money while processing payments online?

That’s right!

Authorizing a bank transfer via the good ol’ ACH Network can save you

some serious bacon.

But before you go all in on ACH, how well do you know the processors

available?

Well, no worries, because you're in the right place.

Today we will be reviewing the 7 Best ACH Processors that

Can Save You Money!

How’s it going Mavericks?

Let’s take a look at the best ACH processing companies for

all types of businesses.

But before we get to it, make sure to subscribe to our channel and don’t forget to hit the

bell down below.

So first and foremost, if you collect online payments...

...your customers are probably used to using credit cards, PayPal, or digital wallets

like Apple Pay or Google Pay.

However, some people may be open to authorizing a simple

bank transfer via the ACH Network - A.K.A.

Automated Clearing House.

These ACH payments are commonly referred to as echecks, and you’ve probably already

paid some of your personal or business bills this way.

For example, if you’ve used direct deposit to distribute or collect paychecks,

or you’ve received a tax refund directly from

the IRS, then you’ve used the ACH Network.

As you might guess,, ACH has some advantages over card-based transactions, therefore

making it a valuable option for low-cost, recurring payments.

The Merchant Maverick team has reviewed a large

number of ACH processing companies to find the most complete and competitively priced

providers out there.

So without further ado, here are the 7 best processors

In no particular order, we have: PaymentCloud, Fattmerchant, Dharma

Merchant Services, National Processing, Authorize.Net, Stripe and Braintree.

PaymentCloud is a high-risk specialist that offers ACH processing.

Besides having an excellent reputation, this processor can be

especially helpful to businesses that have a hard time processing credit cards.

PaymentCloud’s virtual terminal can support ACH-related features upon request.

The company also prides itself in being able to

get ACH service up and running for you within 48 hours…

...as long as you have a business checking account, photo ID, and voided check ready

to go.

Let’s jump right into the pros and cons

Pros: High-risk specialization

No account setup fee Reasonable rates and fees

Excellent customer support Cons:

No publicly disclosed pricing Some businesses may have to accept

tiered-pricing

Fattmerchant is much more than what meets the eye.

It offers its users transparent pricing, but not without a little sense of humor.

Fattmerchant also stands out by being one of the only providers to offer

membership pricing.

This means Fattmerchant charges a higher monthly

subscription fee rather than marking up your rate over the interchange rate.

In other words, this makes Fattmerchant a better deal for businesses that process

a high volume of card transactions.

But before you say, “Mary, what about ACH?”

Well, Fattmerchant has ACH processing upon

request.

So you can call your account manager and have it activated.

Here are the pros and cons: Pros:

Transparent membership pricing Month-to-month billing with no early

termination charge Next-day funding options

QuickBooks integration Cons:

Domestic merchants only Not suitable for low-volume businesses

Dharma Merchant Services shows up as a top choice in our lists, and for good reason.

I strongly suggest checking out our other video titled

“Best Credit Card Processing Companies” linked

below to better understand why we love Dharma so

much.

Dharma offers ACH processing through one of several programs.

The first is MX Merchant, which allows you to accept ACH payments

through the same portal as your credit card processor.

The second is through Telecheck for Clover.

And lastly, you can also use Dharma/NMI Gateway to accept checks.

If you’re curious about their rates and fees,

make sure to check out our article linked below.

Now, while Dharma Merchant Services is a great deal overall, low-volume merchants

can probably get away with a cheaper service.

Also, it doesn’t really work with high-risk companies.

And you'll see that on the pros & cons list: Pros:

No annual fee or monthly minimum Month-to-month billing with no early

termination charge Interchange-plus pricing

Outstanding transparency Cons:

No support for high-risk or international merchants

ACH support requires an add-on service

While National Processing is one of the smaller processors on our list

it definitely gets you a big bang for your buck.

This includes interchange-plus pricing with reasonable month-to-month billing and

ACH processing as an add-on feature.

The company also offers a great deal if you’re not processing too many ACH transactions.

The only real downside to National Processing is that it does charge an early termination

fee in some cases.

This is usually for customers who sign a long-term contract in exchange

for getting a free terminal.

The procs & cons of using National Processing include:

Pros: Interchange-plus pricing

Month-to-month billing (in most cases) Good reputation

Cons: Long-term contracts required to get a

free terminal Early termination fee charged in some

cases

Up next we have Authorize.Net.

Now, Authorize.Net is just a gateway.

Nothing more, nothing less.

But with that being said, many merchant services providers happily Authorize.Net

as their gateway, which means they must have SOMETHING going on for them.

Authorize.Net offers ACH processing through its optional add-on program called

eCheck.Net.

This service is also available as a standalone in case you’re not interested

in everything else Authorize.Net has to offer.

The most frustrating thing about Authorize.Net is

that while you can sign up for the gateway individually, it’s often cheaper to get

it bundled with another service.

However, it's still nice to know that it is available as a stand-alone

option.

So to summarize-- Pros:

Supports multiple currencies No long-term contracts

Can be paired with a merchant account from another service

Cons:

It may be cheaper to use it when it’s bundled with another service

Expensive to get a merchant account through Authorize.Net’s partners

The all-in-one option may confuse customers

Stripe serves businesses in 36 countries and can process transactions in over 100

different currencies.

Stripe can also process ACH payments without a fuss, however, its

pricing system can be a bit confusing.

You may want to check out our article on the website

for more info.

In the meantime, here are Stripe’s pros & cons:

Pros: Predictable flat-rate pricing

Excellent international support Excellent subscription services

Advanced reporting tools Cons:

Account stability issues Not suitable for high-risk industries

Needs technical skill to implement

Braintree has a lot of the same perks as Stripe, but don’t take these two as one

and the same.

The main difference here is that Braintree offers

individual merchant accounts to its customers.

Braintree also charges a fixed rate per transaction on all ACH debits, but with a

capped fee.

And lastly, discounts are also available for enterprise-level businesses.

I should also mention that Braintree’s gateway is a little pricey, so we recommend signing

up for the full Braintree package if you decide

to try out this processor.

With that being said, Braintree’s pros & cons include:

Pros: Predictable flat-rate pricing

Excellent international support Extensive integrations

Cons: Overpriced gateway-only option

Not suitable for high-risk industries Needs technical skill to implement

If you’re still left wondering HOW to possibly compare any two ACH processors, have no

fear, because our CEO Amad is here to save the day.

Tune in to his Maverick Minute episode where he breaks it down easy peasy.

Link is in the description.

Alrighty folks, it’s been a pleasure, but it’s time to bid farewell.

Make sure to check out our website for all your

small business needs.

Oh, and of course, like, subscribe and share!

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