Bank transfer (ACH) FAQ

Learn all you need to know about offering bank transfer payments in Workiz.

Updated over a week ago

In this article, you will learn about some of the most frequently asked questions regarding bank transfer (ACH) payments.

What is a bank transfer?

A bank transfer — often referred to as ACH (automated house clearing) — is an electronic fund transfer made between banks and credit unions. The transfer is made without the use of a paper check, credit card network, wire transfer, or cash.

Bank transfers can be used to make full or partial payments in Workiz.

Why accept bank transfers?

While bank transfers take a bit longer to process than traditional credit card payments with Workiz Pay, they do come with a lower processing fee of 1%. This is ideal for field service businesses that perform larger jobs with more substantial totals.

Rather than incurring the standard processing fee associated with a speedier credit card transaction, you may determine that the benefits of paying a lower fee outweigh the drawbacks of waiting longer to receive your money.

How much do bank transfers cost?

Workiz offers bank transfer processing for the standard rate of 1%.

The processing fees associated with bank transfers are not in addition to credit card processing fees. For a single transaction in Workiz, you will either pay the credit card processing fee or the bank transfer processing fee, but never both.

How long before I get my money?

As mentioned, bank transfers take more time to process and finalize than credit card transactions. In general, it may take 6–8 business days to receive the funds in your bank account after the payment was made. That’s compared to the 3–4 business days it takes to receive your money when using credit cards.

IMPORTANT: Bank transfer payments typically require 4–5 business days in order to process. These payments are not finalized until after they have finished processing. After they have finished processing, it will be another 2 business days before the funds are paid out from your Workiz Pay balance to your business bank account.

How do I enable bank transfers?

To begin offering bank transfers, you will first need to sign up for Workiz Pay. After signing up, you can enable bank transfers from your Workiz Pay dashboard.

To learn more about enabling bank transfers on your account, please see this article.

How do I collect payment via bank transfer?

When sending an estimate or invoice in Workiz, you will see the option to let your client pay with a bank transfer. You will need to select this option every time you want to allow a bank transfer payment for an invoice.

To learn more about offering a bank transfer payment, please see this article.

What will my client need to do to make a bank transfer payment?

After sending your client a link to view the estimate or invoice on the Workiz client portal, they will see the option to pay with a bank transfer.

They will only need to select their bank from the list provided and then log in using their account credentials.

To learn more about what your clients will see, please see this article.

What is Plaid?

Workiz uses Plaid to securely connect to your client's bank account to initiate the bank transfer. Plaid is a popular third-party tech company that creates secure connections between banks and platforms like Workiz. Companies using Plaid’s technology include Venmo, Current, Paysafe, Wise, and many more.

Will I be notified when at the payment is sent?

Yes, Workiz will send you notifications when a bank transfer is initiated, confirmed, and/or failed.

What happens if a payment fails?

There are two scenarios in which a bank transfer could fail, one of which may result in a fee against your business. They both involve insufficient funds.

  • Scenario 1: Plaid validates your client's bank account to determine it has sufficient funds at the time of the transaction. Because funds were originally deemed sufficient, the payment begins processing. But in this very rare case, the funds are no longer available before the payment could finish processing.

    You would receive a notification of the failed payment and be charged a non-refundable $5 fee.

  • Scenario 2: Plaid determines your client's bank account does not have sufficient funds at the time of the transaction. The payment would not begin processing.

    You would be notified of the circumstances almost immediately. Your business would not charged a fee.

No matter the scenario, it is important that you contact your client to collect the payment owed.

Who can use bank transfers?

Bank transfer (ACH) payments are only available in the US.

Can I issue refunds on bank transfers?

Yes, but only when the payment has been:

  • Made within the last 90 days

  • Successfully processed

Because you cannot refund payments that are still being processed, it is important that you contact your client to explain the circumstances to help prevent them from filing a dispute.

What happens if a client files a dispute?

Unlike card transactions, disputes involving bank transfer transactions are final and cannot be appealed.

In the event of a dispute, the relevant funds will be returned to your client and your business will be charged a non-refundable $25 fee.

If you sense a client may soon file a dispute against your business, we strongly recommend you contact that client to try and resolve the matter privately.

Is there a minimum amount required to offer a bank transfer?

Yes, bank transfers are only available for estimate deposits or invoice subtotals of $100 or more.

Can clients make partial payments using bank transfers?

Yes, as long as the partial payment is more than $100, your client can make a partial payment for an estimate or invoice using a bank transfer.

After connecting their bank account in the Workiz client portal, your client will simply need to edit the charge amount to submit a partial payment. For more information on what your clients will see, please see this article.

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