Steps to collecting payments via ACH
1.Enable ACH and configure settings. Apps > App Store > ACH > Configure
2.Have a member purchase the ACH-enabled plan either from a landing page or through the control panel.
3.On purchase, the member will be asked to specify the bank name. (We use Plaid to enable the connection).
- If the member's bank is recognized by Plaid, they will be directed to a page where the member can log in to their bank, to authorize the bank connection.
- If the member's bank is NOT recognized by Plaid, they will need to input their routing and account number, then verify 2 small deposits in their bank account.
Once a member has submitted their banking information, their membership will be active.
So what happens to the payment?
When a payment is initiated through ACH, it typically take 4-5 business day for the transaction to clear. In that time,
- An invoice is created for the transaction.
- It will be attempted to be closed in 3 business days, or when the member has verified their bank deposits (whichever comes first)
- The payment information in the member's profile will show as verified or unverified
- The plan they purchased will be immediately active. If the invoice is unable to be closed, or comes back as NSF, the plan will be put on Alert status