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    4 Replies Latest reply on Sep 15, 2012 5:52 PM by jaehocho

    Monthly Payments from customers via ACH?

    jgarcia_esi Newbie

      I have been trying to contact Bank of America for the last few days and have not been able to get through. I was wondering if anyone knew about the online banking solutions that Bank of America has available. Our company uses an OLD program called Microcash to automatically deduct our customers bank accounts (with their prior written consent) via ACH. We are inquiring about switching to a newer, more secure online version and wanted to see what they had available. Ideally, the program would allows us to receive customer payments via a monthly automatic debit and also let us pay our employees via the same program (online). Does anyone know if Bank of America has an option like this? Thanks!

        • Re: Monthly Payments from customers via ACH?
          LUCKIEST Guide
          Sorry, This is something new. Keep us informed.
          Thanks, LUCKIEST
          • Re: Monthly Payments from customers via ACH?
            FMDynamics Newbie
            From my understanding this is something you can accomplish through Bank
            of America. However you will pay a premium with BOA. ACH is just
            another way to process payments. You can draw payments from clients as
            well as make deposits to employee acccounts regardless what company you
            go with. That
            being said you really want to look for a merchant services company.
            They have the ablility to offer you ACH direct. What I mean by that is
            a merchant services company is in the business of handling electronic
            payments. A bank does it because they handle these kind of transaction
            but it is not their bread and butter. So they offer the service but at
            a premium. It the same thing as going to a tire store and getting your
            transmission fix. They can do it but they do not specialize in it so
            you will pay a higher cost. What you need is a direct ACH program
            through a certified check acceptance company. By going with a company
            such as this you will decrease your cost dramatically. I myself went for paying 24.95 a month to 14.95 a month and from .85 cents a check to .25 cents.This is the same issue I had and through this site I was able to contact another member that was really able to help me out and give me the info I stated above. If you want you can contact him 847-970-9960 Adriano
            • Re: Monthly Payments from customers via ACH?
              jaehocho Newbie

              I had the same question as jgarcia_esi - I want to receive payment from clients by setting up ACH. I wanted to see if things had changed since the question was posted. I talked to 3 BofA reps, but none of them really gave me a clear answer. It seems like going with merchant services company is the answer.


              I see that Express Invoicing lets customers set ACH payment to our BofA account via their website, but we need old-fashioned paper authorization.


              My question is: What is the program that BofA provides for setting up ACH this way? and what is the price for it?