Top ACH Payment Processors
Best Overall: Stripe
Best All-in-One Solution: Square
Best for QuickBooks Users: QuickBooks Money
Best for Free ACH Payments: Melio
Best for International Transfers: GoCardless
Automated Clearing House (ACH) payments are electronic transfers that facilitate funds moving between bank accounts via the ACH network. Unlike credit card transactions, these payments directly withdraw money from the customer’s bank account, typically resulting in lower processing fees. ACH payments are particularly effective for recurring transactions and larger sums. Notably, the total volume of ACH payments in Q2 2024 reached $21.6 billion—a 7% increase compared to Q2 2023.
The ideal ACH payment processor should seamlessly integrate with your current systems, offer low transaction costs, customizable API support, and multiple avenues for accepting payments. Additionally, robust customer support and clear settlement timelines are crucial for ensuring smooth operations.
Comparison of Top ACH Payment Processors
When evaluating various ACH processing companies, I focused on key factors including processing fees, API quality, security features, and payment functionalities. All processors on my top list maintain zero monthly fees.
| Processor | Rating (out of 5) | Transaction Fee | Ways to Accept ACH Payments | Payout Speed |
|---|---|---|---|---|
| Stripe | 4.32 | 0.8%, capped at $5 | Payment links, Invoicing, Recurring billing, Custom checkout page, API & SDK integration | 2–4 business days |
| Square | 4.19 | 1%, minimum of $1 | Invoicing, Recurring billing, API & SDK integration | 3–5 business days |
| QuickBooks Money | 4.17 | 1% | Invoicing, Recurring billing | Same day |
| Melio | 4.07 | None | Payment links, Invoicing, Recurring billing | 3–5 business days |
| GoCardless | 4.00 | 0.5% + $0.05, capped at $5 | Payment links, Invoicing, Recurring billing, API integrations | 3–5 business days |
Detailed Breakdown of Each Processor
Stripe: Best Overall
Rating: 4.32 out of 5
Stripe is a highly powerful payment processor, favored for its sophisticated API and smooth integration options. It accommodates a variety of payment methods, including ACH, credit cards, and international payments, making it an excellent choice for businesses looking for scalable solutions.
Why Choose Stripe?
Stripe is ideal for tech-savvy businesses seeking flexibility and customization. Its extensive developer resources facilitate easy integration of ACH payments with minimal friction, making it perfect for businesses experiencing growth or handling high transaction volumes.
Pricing:
- Monthly fees: $0
- ACH processing fee: 0.8%, capped at $5 (2-3 business days settlement)
Features:
- Advanced API and security
- Support for multiple payment options
- Recurring billing and invoicing
- Multi-currency support
Square: Best for All-in-One Solutions
Rating: 4.19 out of 5
Square is celebrated for its user-friendly payment processing platform, designed to manage in-person and online transactions seamlessly.
Why Choose Square?
Square shines in simplicity and ease of use, making it suitable for businesses lacking in-house tech support. It consolidates various payment options into one efficient platform.
Pricing:
- Monthly fees: $0
- ACH processing fees: 1%, minimum of $1
Features:
- Comprehensive payment processing
- User-friendly dashboard
- Mobile app and fraud detection tools
QuickBooks Money: Best for QuickBooks Users
Rating: 4.17 out of 5
QuickBooks Money, from Intuit, is a zero-monthly-fee service that integrates perfectly with QuickBooks for streamlined financial management.
Why Choose QuickBooks Money?
This service best suits existing QuickBooks users, enabling efficient transaction management within the familiar framework of QuickBooks.
Pricing:
- Monthly fees: $0
- ACH processing fees: 1%
Features:
- Unique integration with QuickBooks
- Dedicated business bank account
- Same-day deposit option
Melio: Best for Free ACH Payments
Rating: 4.07 out of 5
Melio offers a versatile payment platform where businesses can both accept and send ACH payments at no cost.
Why Choose Melio?
Ideal for cost-conscious businesses, Melio allows users to manage both vendor and customer payments without transaction fees.
Pricing:
- Monthly fee: $0
- ACH processing fees: $0
Features:
- Invoice management
- Payment scheduling
- Cash flow insights
GoCardless: Best for International Transfers
Rating: 4.00 out of 5
GoCardless specializes in direct bank debit payments, making it perfect for businesses engaged in international transactions.
Why Choose GoCardless?
This platform excels in managing recurring payments and international transfers, ensuring low transaction costs.
Pricing:
- Monthly fee: $0
- ACH processing fees: 0.5% + $0.05 (domestic)
Features:
- Supports international payments
- Customizable payment schedules
- Automated payment failure management
Benefits of ACH Payment Processing
ACH payment processing presents numerous advantages for businesses aiming to cut costs and streamline their payment systems:
- Lower Fees: ACH processing costs are generally lower than credit card transactions.
- Recurring Payment Reliability: Ideal for subscriptions and larger sums.
- Reduced Chargeback Risk: Offers improved stability compared to credit cards.
- Fewer Payment Failures: Bank account details change infrequently, unlike card details.
- Enhanced Security: ACH transactions employ secure encryption and stringent regulations.
How to Choose the Best ACH Payment Processor
When selecting the ideal ACH payment processor, consider:
- Transaction Fees: Analyze per-transaction costs and any monthly fees.
- Integration Capabilities: Check for compatibility with existing systems.
- User Experience: Look for ease-of-use for both staff and customers.
- Customer Support: Ensure access to reliable support.
- Security Features: Prioritize robust security measures to safeguard financial data.
Methodology
In compiling this list of top ACH payment processors, I prioritized solutions that offer efficiency, security, and usability for mid to large-sized businesses. Each processor was evaluated based on integration abilities, pricing, features, user experience, and customer support. My research included thorough reviews of documentation, pricing data, user feedback, and hands-on testing, aiming to recommend processors that effectively balance affordability, functionality, and robust support for streamlined payment operations.
