Setup ACH for Payment Processing

What is ACH?

ACH (Automated Clearing House) is a banking network that coordinates electronic payments and automated money transfers and is a way to move funds between banks without using paper checks, wire transfers, credit cards, or cash. For UltraCamp, that means it is another method for your clients to submit payment electronically.

Why should I use ACH?

The biggest reason to use ACH is that it costs your organization less processing fees than credit card payments (approximately 1/3 of the fees incurred by credit card transactions). ACH payments do take longer to clear than credit cards, but they function similarly in every other regard.

  ACH Fees

Here are the fees you can expect from enabling ACH transactions:

  • $5.00 monthly ACH connection fee (only charged in the months that you are taking ACH payments/refunds)
  • $0.50/transaction
  • 1% of each transaction
  • $2.50 returned ACH fee
  • $0.25 batch fee

 

How to Enable ACH for your Organiation

Setup for ACH is done through the My Settings Wizard. You'll first need to add your organization’s bank account in the Finances section, then enable and complete a two-part ACH Setup in the Client Payments section. Below you will find directions to address each of these parts of setup:

Adding a Bank Account

To add a banking account, take the following steps:

  1. Open the Settings menu and expand the System Management section
  2. Select My Settings to access the wizard
  3. Proceed to the Account Information page in the "Finances" section
  4. Enter your banking account and routing numbers in the space provided
  5. Click the Next button (lower right corner) to save

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Enabling ACH Payments

To enable ACH Payments, take the following steps:

  1. Open the Settings menu and expand the System Management section
  2. Select My Settings to access the wizard
  3. Proceed to the ACH? page in the "Client Payments" section
  4. Select Yes, I would like use ACH
  5. Click the Complete button to move on to the ACH Payment Setup page

Step 1: ACH Payment Setup

Once you've enabled ACH payments, you need to request an application using the following steps:

  1. On the ACH Payment Setup page, enter the Signer Name and Signer Email in the fields in Step 1
  2. Scan and upload a voided check using the designated button
  3. [Optional] If the average payment by your clients is $1000.00 or more, use the button to upload 3 months of bank statements for your organization
  4. Click the Request Application button.

This will submit a request to our payment processing team. They will send the Docusign application packet to the person designated in Step 1. When this is submitted, it usually takes about two business days for the application to move through review unless more documentation is requested.

 

Step 2: ACH Settings

Once the application is approved, and the camp is enabled by payment processing for for ACH, Step 2 will become available. You will receive an email to let you know when this occurs. You can then return to the My Settings wizard and to finish setup:

    1. Open the Settings menu and expand the System Management section
    2. Select My Settings to access the wizard
    3. Proceed to the ACH Payment Setup page in the "Client Payments" section
    4. Enter your ACH Settings in Step 2
      • Select ACH Contacts to receive relevant ACH communication from UltraCamp
      • Set your Returned ACH Fee for payments that bounce
      • Set your ACH Error Fee for payments that are returned for account information errors
      • [Optional] Set a convenience fee and an associated allocation account
      • If you want to encourage ACH use, check the box and enter your own encouragement text if you don't want to use UltraCamp's default
    5. Click the Complete button to save your changes

Your organization is now set up for ACH Payment Processing!

 

Links to our ACH Blog Articles

For additional information about ACH, you can read our latest blog articles.

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