Stop Sending Checks: Why ACH Payments Make Sense for Small Businesses

When it comes to sending and receiving payments, ditching paper checks in favor of electronic transactions can make payments easier and more secure.

The five W's of ACH payments

Direct bank-to-bank money transfers, or ACH electronic payments, are easy to set up and convenient for small business owners—and their vendors.

Here's everything you need to know about the benefits of ACH payments:

Who: Anybody—from a self-employed individual to a large corporation—can send or receive electronic payments right from their bank account.

What: ACH payments let you move money electronically between bank accounts. It's faster, easier, and more secure than sending paper checks in the mail.

Where: Funds are transferred through the Automated Clearing House (ACH), a secure network that manages electronic financial transactions. The ACH network processes billions of transactions every year.

When: Direct fund transfers are the fastest way to get money in the bank. When you schedule an electronic payment, you'll see the expected processing and payment dates, so you can manage your cash flow on a bill-by-bill basis.

Why: ACH payments are...

• Fast. Once account information is set up, you can transfer money with a single click.
• Secure. There's no account information floating around in the mail or on email.
• Cheap. On Bill.com, each ePayment costs just 49¢. That's half the cost of paying with a Bill.com check and a fraction of the merchant fees you'd pay to accept credit card payments.
• Green. No paper, planes, or mail trucks are used to make ePayments.

Bill.com ePayments use the secure Automated Clearing House (ACH) system to move money electronically between bank accounts. Jeremy Pyles, co-founder of Niche Modern says, "ePayments are a huge step forward in making it easier for me and my vendors to get paid."

See what other small business customers are saying about Bill.com.

Easy Bill.com ePayments setup takes minutes, not hours

Flexible set-up options keep the ePayment process hassle-free for you, your vendors, and your customers.

To pay your vendors using direct ePayments:

• Check the Bill.com database. Over 4,000 companies are already in the Bill.com system. Setting up a vendor may be as simple as clicking their company name.
• If not, you can enter vendor bank account and routing information securely within Bill.com.
• Or, you can invite vendors to join the Bill.com Payment Network so they can directly enter their banking information and manage their account.

To receive ePayments directly from your customer's bank:

• Create a secure payment portal on Bill.com, where customers can view your current and past invoices and make payments.
• Customers maintain their bank information and pay you directly, safely, and securely.

Bill.com ePayments are the easiest way for small businesses to pay bills and get paid.