Best ACH Payment Processing for Businesses in 2024

Stripe: Best overall

Our rating: 4.32 out of 5

Stripe is a powerful, developer-friendly payment processor known for its robust API and seamless integration capabilities. It supports a wide range of payment methods, including ACH, credit cards, and international transactions. Businesses seeking customization and scalability in their payment processing will find Stripe highly suitable, whether it’s for ACH or credit card payments.

Why I chose Stripe

I selected Stripe as the best overall ACH payment processor. Its powerful API and extensive developer resources make it especially appealing for tech-savvy businesses and developers. Compared to other providers like QuickBooks Money and GoCardless, Stripe offers far more flexibility, which allows businesses to easily integrate ACH payments into their existing systems with minimal friction. Its scalability also sets it apart from Square, making Stripe a better fit for companies experiencing rapid growth or managing high transaction volumes.

Additionally, Stripe supports a wide range of payment options, such as credit card payments and mobile wallet payments, unlike GoCardless, which focuses primarily on ACH. This versatility enables businesses to offer multiple payment methods through a single platform. Stripe’s combination of advanced tools, security features, and competitive pricing makes it a top choice for businesses that require both performance and flexibility.

Pricing

• Monthly fees: $0 per month.
• ACH payment processing fee:
  • 2–3 business days settlement: 0.8%, capped at $5 per transaction.
  • Two-day settlement: 1.2% per transaction.
  • Instant bank account validation: $1.50 per transaction.
• Disputed payments: $15 per transaction.
• Failed payments: $4 per transaction.

Square: Best for businesses needing an all-in-one payment solution

Our rating: 4.19 out of 5

Square is a versatile payment processing platform known for its easy-to-use tools and integrated payment solutions. It provides an all-in-one system that supports both in-person and online transactions. Among the payment methods it accepts are ACH payments through Square Invoice and Bank on File.

Why I chose Square

I chose Square as the best option for businesses needing an all-in-one payment solution because of its user-friendly platform that supports both in-person and online transactions. Unlike Stripe, which excels in customization and developer tools, Square offers a more streamlined, out-of-the-box setup, making it ideal for businesses without dedicated tech teams.

Although Square only accepts ACH payments through invoices and bank-on-file, its ability to handle multiple payment methods within one system makes it a convenient choice for businesses that want simplicity. For companies that prioritize ease of use and a unified solution, Square provides the perfect balance of functionality and efficiency.

Pricing

• Monthly fees: $0 per month.
• ACH payment processing fees: 1%, minimum of $1 per transaction.

QuickBooks Money: Best for businesses using QuickBooks

Our rating: 4.17 out of 5

QuickBooks Money is a no-monthly-fee payment processing service from Intuit, the same company known for the accounting software QuickBooks Online. It offers a straightforward pricing model where businesses only pay per transaction.

With QuickBooks Money, users can maintain full control over their business finances without the hassle of extensive bookkeeping. The service includes features such as a dedicated business bank account, the ability to send invoices, and same-day deposits to improve cash flow. Additionally, businesses can earn a competitive 5.00% APY on their funds.

Why I chose QuickBooks Money

QuickBooks Money allows non-QuickBooks subscribers to accept payments without signing up for QuickBooks. However, it is still best for those who already have QuickBooks or are planning to use it for their accounting needs. This integration streamlines financial management by automatically syncing payment data with accounting records, reducing manual entry and minimizing errors—an advantage over other processors on this list that require more manual tracking or integration with other accounting tools.

Users can easily generate invoices, track payments, and monitor cash flow directly within the QuickBooks ecosystem. Compared to providers like Stripe, which excels in customization, QuickBooks Money offers a more straightforward approach. Additionally, it comes with a QuickBooks Checking account and Visa debit card, allowing same-day deposits and making it valuable for businesses that need quick access to their funds. Other extra perks of QuickBooks Money is that it accepts PayPal and Venmo payments, something that other providers on this list cannot do.

Pricing

• Monthly fees: $0 per month.
• ACH payment processing fees: 1% per transaction.

Melio: Best for free ACH payments

Our rating: 4.07 out of 5

Melio is a versatile payment processing platform that allows businesses to both accept and send ACH payments. Aside from allowing merchants to accept ACH payments from customers, it also facilitates vendor payments through ACH transfers. This dual capability allows businesses to streamline their accounts payable and receivable processes, enhance cash flow management, and maintain greater control over their financial operations, all from a user-friendly interface.

Why I chose Melio

Businesses looking for a zero-cost way to accept ACH payments will find Melio as the best option. Aside from not charging any monthly fees, Melio does not have any ACH payment processing fees. This is in glaring contrast to other ACH processors on this list that have a processing fee per ACH transaction.

Aside from being cost-effective, Melio has a straightforward interface and dual functionality for both accepting and sending ACH payments, which simplifies financial management and improves operational efficiency. For businesses looking to minimize expenses while maximizing payment flexibility, Melio is an excellent choice.

Pricing

• Monthly fee: $0 per month.
• ACH payment processing fees: $0 per transaction.

GoCardless: Best for international bank transfers

Our rating: 4.00 out of 5

GoCardless is a payment processing platform specializing in ACH and bank debit payments, offering businesses a simple way to collect recurring and one-off payments directly from customers’ bank accounts. Designed for businesses that operate internationally, GoCardless provides seamless cross-border payment capabilities and ensures low transaction fees compared to traditional credit card processing. Its streamlined approach makes it ideal for businesses focusing on bank transfers rather than card payments, particularly for recurring billing and subscription models.

Why I chose GoCardless

GoCardless is an excellent option for businesses focused on recurring ACH and international bank payments. Unlike other providers like Stripe or Square, GoCardless is built specifically for handling direct bank payments, which makes it a great solution for companies prioritizing ACH over credit cards. Its international capabilities also set it apart, allowing businesses to easily collect payments from customers in multiple countries without incurring hefty fees typically associated with cross-border transactions.

GoCardless also excels in subscription billing management, offering tools that simplify recurring payments, making it ideal for businesses with long-term customer relationships.

Pricing

• Monthly fee: $0 per month.
• ACH payment processing fees:
  • Standard:
    • Domestic: 0.5% + $0.05, capped at $5 per transaction.
    • International: 1.5% + $0.05 per transaction.
  • Advanced:
    • Domestic: 0.75% + $0.05, capped at $6.25 per transaction.
    • International: 1.75% + $0.05 per transaction.
  • Pro:
    • Domestic: 0.90% + $0.05, capped at $7 per transaction.
    • International: 1.90% + $0.05 per transaction.
• Refund fee: $0.50 per transaction.
• Chargeback fee: $5.00 per transaction.
• Failure fee: $5.00 per transaction.
• Custom name on customers’ bank statements: $25 per month.