How to Accept ACH Payments in WordPress (2023)

As an expert WordPress developer with over 5 years of ecommerce experience, I often get asked: "How can I lower my payment processing fees"?

My top recommendation is to start accepting bank transfers (ACH payments) in addition to traditional card payments.

In this comprehensive 2023 guide, you‘ll learn:

• The benefits of accepting ACH payments
• How bank transfers compare to card processing
• Step-by-step instructions to enable ACH in WordPress
• What to expect during the bank transfer process
• Tips for managing and reconciling ACH transactions

So if you want to save money on payment fees, reduce churn, and support larger invoice sizes – read on!

Why Your Business Needs ACH Bank Transfers

Research from the National Automated Clearing House Association shows that ACH network volume grew to 27 billion transactions in 2021, up nearly 10% from 2020. This increase is expected to continue with more businesses adopting ACH either alongside or instead of card payments.

But why is ACH so appealing compared to traditional credit card processing?

Significant Per Transaction Fee Savings

This table outlines the standard transaction rates across popular US payment gateways:

Processing fees compared across bank transfers (ACH), Visa, Mastercard, and American Express

As you can see, ACH transfers have roughly 60-75% lower fees per transaction compared to cards – especially at higher invoice sizes.

For example, a $10,000 payment would incur ~$83 in fees through ACH compared to $330 if paid by card – that‘s nearly 4x more expensive!

Clearly ACH brings huge cost savings, which translates to higher margins and profits. But the benefits don‘t stop there…

Increased Transaction Sizes

ACH transfers allow much higher dollar amounts per payment versus credit cards:

• ACH Payments: Up to $100,000
• Visa / MasterCard: Up to $10,000
• AmEx: Up to $25,000

So with ACH, you won‘t lose out on those rare super-sized invoices. The funds get securely pulled from the customer‘s checking account automatically.

Lower Failure Rates and Churn

Since bank accounts don‘t expire like credit cards, ACH helps minimize involuntary churn and revenue losses.

Automated recurring bank withdrawals have 2-3x higher success rates than recurring card charges which expire frequently.

Faster Settlement Times

Funds from ACH payments settle much quicker, improving business liquidity:

• ACH Transfers: 1-3 business days on average
• Credit Cards: Up to 30 days in some cases

Getting paid faster is always a good thing!

As you can see, adding ACH capability alongside traditional card processing is extremely beneficial across smaller and larger merchants alike.

Next let‘s dive into our expert guide for implementing ACH payments within WordPress.

How to Accept ACH Payments in WordPress

Accepting direct bank transfers in WordPress is simple when using WP Simple Pay. This popular payment plugin has a premium version with full support for ACH and other US payment methods.

We‘ll cover:

• Installing and setting up WP Simple Pay
• Connecting to your payment gateway
• Creating ACH-enabled payment forms
• Collecting consent and bank details
• Managing automatic recurring payments

Let‘s get started!

Installing and Configuring WP Simple Pay

First, install WP Simple Pay just like any other WordPress plugin:

1. Purchase a premium "Pro" license from the official WP Simple Pay website
2. Upload and activate the plugin via your WordPress dashboard
3. Follow the automatic post-activation wizard:
   • Enter your license key
   • Connect to Stripe for bank transfer processing
   • Configure email receipting and notifications

Once connected, WP Simple Pay will automatically sync with your Stripe account allowing access to ACH payments through your WordPress site.

You‘re now ready to build ACH-enabled payment forms.

Creating ACH Payment Forms

With WP Simple Pay running, click "Add New" form under the plugin menu. This will open the customizable form builder.

Here are the key steps:

1. Select the "ACH Direct Debit Form" template
   • Alternatively choose another template and enable ACH manually
2. Customize the form name, description etc as needed
3. Set the payment amount and frequency (one-time or recurring)
4. Confirm ACH is enabled under "Form Fields"
   • Enable other payment methods as well if desired
5. Adjust advanced settings per your requirements
6. Preview and publish the live ACH payment form

Your high-converting ACH checkout form is now ready!

You can insert this form on any post, page, widget or popup via the WordPress editor.

ACH Payments Checkout Process

When a customer purchases using ACH for the first time, an additional verification step is required by law.

They must review their bank details and manually enter them again to confirm consent. Customers also need to electronically sign an ACH authorization agreement as the account holder.

This two-factor authentication eliminates unauthorized bank withdrawals. After initial consent, subsequent ACH payments process immediately without reprompting for verification.

As the merchant, you can customize this payment confirmation experience using WP Simple Pay‘s advanced settings and hooks.

Managing ACH Transactions

All ACH payments, subscriptions, reporting and reconciliation happens seamlessly through the Stripe dashboard connected to your WordPress site.

Key features include:

• Email receipts and confirmation messages
• Automated recurring bank withdrawals
• Payment and customer analytics
• Dispute handling workflows
• Payouts directly to your bank

Stripe also handles all regulatory compliance, security and infrastructure around processing ACH transfers.

Alternative WordPress ACH Solutions

While WP Simple Pay is beginner-friendly, developers may prefer more customizable applications:

• Stripe – code your own forms with ACH capability
• Braintree – owned by Paypal with transparent bank transfers

However these direct API integrations require custom development work.

Recap and Next Steps

I hope this guide gave you confidence in accepting automated bank transfers through WordPress. ACH capability will save serious money in payment processing fees while supporting large invoice sizes.

Here‘s a quick recap:

• ACH transactions bring 60-75% cost savings versus cards
• WP Simple Pay plugin handles everything automatically
• Set up Stripe to process bank transfers behind the scenes
• Use the form builder to create custom ACH checkouts
• Follow two-factor authentication requirements carefully

As next steps, consider:

• Adding other payment methods like Apple Pay
• Creating early payment incentives through discounts
• Building more customized experiences via CSS and code
• Tracking conversion funnels around bank transfer acceptance

Let me know if you have any other questions!