ACH transfers with Bill.com is a cheap alternative to PayPal
PayPal offers its users convenience when it comes to money transactions. However, if you are a business, PayPal charges a fee on the payment based on a percentage. For a typical $10,000 invoice, the PayPal fee will for the transaction will cost $300.
Instead, consider ACH payments as an alternative to PayPal.
What are ACH Payments?
ACH payments, or payments through the Automated Clearing House, is a secure network that banks utilize to transfer payments. This is the method typically synonymous with a bank’s bill pay feature.
How to accept ACH transfers instead of PayPal payments?
Bill.com is a business payments platform that facilitates ACH payments. Instead of paying PayPal fees of 3% for each payment, Bill.com only charges $0.50 per ACH transfer. In other words, for the same invoice of $10,000, using Bill.com will only cost $0.50. When a business expects to receive hundreds of payments a year, using ACH payments with Bill.com can save thousands of dollars.
How else can Bill.com help my business get paid with ACH?
Besides providing your business a platform to accept ACH payments, Bill.com also automates your accounts receivable process for your business. Bill.com will also help your business send recurring invoices and overdue reminders.Most of all, not only does the payment get direct deposited into your bank account, Bill.com will sync the payment to your accounting software. This eliminates the hassles of double data entry and errors associated with it.
How do I get started with Bill.com?
Bill.com offers a 30 day-risk free trial. You have full access to our accounts receivable and accounts payable automation product. If you decide to not use Bill.com at the end of the trial, you do not have to pay anything. Get started with your risk-free trial to make your business more profitable and efficient today.