Streamline Your Payments with Standard ACH
Move funds in and out of external bank accounts, using standard ACH processing times.
STANDARD ACH
Streamlining Your Payment Operations
Collecting and disbursing payments is a critical piece of a business’s payment operations. From mid-sized businesses to large corporations, every business can benefit from streamlined payment processing technology.
Modern, automated payment operations unlock the full potential of payments by eliminating the need for legacy technology, traditional paper checks, manual processes and the hidden costs that come with them. Through the power of ACH and an updated payments platform, businesses can improve cash flow, account reconciliation and even profitability.
Lower Costs
In general, the costs of ACH come in much lower than other payment methods. When comparing the fees between credit cards and ACH payments, credit card payments have higher processing fees since they are typically calculated as a percentage of the transaction. ACH transactions can cost pennies to initiate and in some cases are free. Excluding cash transactions, ACH transactions have some of the lowest transaction fees.
Increased Security
Funds that are transferred directly to a verified bank account can be more secure. Credit cards have a high incidence of fraud, while the manual process around paper checks leaves room for human error and opens up the possibility for the check to be stolen during mailing.
Controlled Cash Flow
ACH transactions and, more specifically, ACH APIs, allow businesses to automate their manual payment processes that cost a lot of time and money. ACH APIs automate repetitive processes such as data entry, verification and confirmation of payments. No more processing, mailing and tracking paper checks as part of your payment operation.
“The time the team had previously used to manually process transactions was drastically reduced and there was no need to hire more personnel for other activities. Our manual workload decreased by 98% and the total time spent on transactions reduced by 80%—along with all of the errors that were prevented—thanks to automating ACH transactions.”
Transportation CompanyChief Executive Officer
Insurance Platform Uses ACH Payments for Efficient Claim Reimbursement
- A pet insurance platform started searching for a more efficient reimbursement solution to help scaling efforts. This platform onboards thousands of policyholders on a monthly basis
- Partnering with Dwolla and implementing ACH payments has allowed their customers to claim reimbursements 5 days faster than with a paper check.
- Electronic ACH payments saved this insurance company over 92% in costs vs. paper checks.
- Reimbursement efficiencies improved by over 800% by switching from paper checks to ACH.
Investment Platform Facilitates Art Buying with ACH transactions
- An investment platform uses standard ACH transaction timing not only as a check against fraud but also as a peace-of-mind payment method that lets them know how much money is in the bank and when it will arrive.
- Since going live with Dwolla, this Investment platform went from transferring “a couple hundred thousand dollars” through the Dwolla Platform to facilitating tens of millions a month in art investments.
- For their end users, having the ability to make a quick and easy investment is a significant step in making art acquisition more accessible. The flexibility and ease of ACH payments with Dwolla means the API works in the background with little to no intervention from the company’s engineers.
- Their payment volumes scaled by 200% using ACH transactions.
Real Estate Platform Uses ACH for Inexpensive, Quick and Reliable Payments
- Real estate companies and escrow holders use this platform to collect earnest money deposits and commissions electronically, eliminating the need to manually deliver paper checks or conduct real estate transactions in person.
- When this real estate platform first implemented Dwolla’s payment API, the company used standard ACH transaction timing to facilitate real estate payments.
- The technology team can easily toggle between Standard ACH and Same Day ACH transfers, depending on the end user, risk factors or use case.
Leading Open Banking in North America
40+
Partners
20M+
End-Users
121M+
Annual Transaction Volumes
99.9%
Uptime, 365 Days
Integrate pay by bank payments in as little as ten days.
Dwolla's full-service approach replaces legacy payments technology with a single solution, improving security, data visibility and the customer experience.