eChecks are gaining in popularity because they can be processed for a fraction of the fees taken by credit card payments (see below). They provide an easy and secure way to get paid directly from a customer’s bank account, and make a lot of sense for big-ticket or subscription-based items.
What does it cost to accept eChecks?
PayStand subscribers at all membership levels can accept eChecks simply by turning on the eCheck option in their dashboard. PayStand does not mark up eChecks, so you'll get a permanent 0% rate with a micro fixed processing fee of only $0.25 per transaction.
Which banks are supported for online banking login?
PayStand's eCheck supports over 18,000 U.S. banks. This means that whether your customer uses one of the big banks or their local community bank, they will be able to pay you with eCheck.
Does my customer have to sign up with PayStand to pay me?
No, we try to make your customer’s payment experience as seamless and easy as possible. Your customer can pay right on your website in an inline checkout window, complete with your logo and branding. They don’t need any special credentials other than their banking login to authorize the transaction.
Does my customer need their checkbook handy to pay with eCheck?
No, because PayStand supports secure online banking verification, all your customer needs is their bank login to approve the transaction. Most people have their bank logins memorized, which makes it a more convenient payment method than entering in all those credit card digits and security codes.
Does my customer pay a fee to use eCheck?
PayStand gives you the option to pass the $0.25 per-transaction fee on to your customer, but this is optional. There is no additional charge to your customer to pay using eCheck.
Can I accept international payments by eCheck?
At this time PayStand does not support international eCheck payments. We do support international credit card payments as long as the merchant account is U.S.-based.
How can I request an eCheck payment?
PayStand gives you several options to guide your customer to an eCheck payment. You can send your customer a secure link to pay you for a specific invoice, or include eCheck as an option in your online checkout process. You can include eCheck next to the credit card option, or offer eCheck exclusively.
Can I set up automated debits with eCheck?
Yes, automated recurring eCheck payments are a unique feature of PayStand’s eCheck support. You can set up the recurring payment option when you turn on eCheck payments in the PayStand dashboard to monthly or annual. Only the fixed $0.25 fee will be charged for each transaction. Recurring eChecks are a great way to receive regular payments on time and in full, as well as to offer amortized payments for big-ticket items or donations.