Getting paid from customer using bank ACH method

[Jean Shimp]

My new, probably one-time, customer wants me to get set up in their payment system so they can deposit payments directly into my bank account (ACH). In order to do this I have to register and set up an account with their system. I have to give them my bank info - routing number and bank account number as well as other tax information. I am sure this is just going to be a one-time sign sale and will probably not get any repeat business. The sign job will run a couple thousand dollars. This seems to be a trend with certain types of businesses. Is it worth it for me to jump through these hoops and put my info "out there"? Any thoughts?

 

[Notarealsignguy]

That's not really jumping through hoops. You could have done it quicker than the time it took you to post this.

 

[Boudica]

My new, probably one-time, customer wants me to get set up in their payment system so they can deposit payments directly into my bank account (ACH). In order to do this I have to register and set up an account with their system. I have to give them my bank info - routing number and bank account number as well as other tax information. I am sure this is just going to be a one-time sign sale and will probably not get any repeat business. The sign job will run a couple thousand dollars. This seems to be a trend with certain types of businesses. Is it worth it for me to jump through these hoops and put my info "out there"? Any thoughts?

Seems weird to me.

 

[Stacey K]

I would do it! It likely means you will get paid quicker.

 

[Stacey K]

I'm set up that way with one of the schools and it's nice because they usually pay me within a couple days of sending the invoice.

 

[ChicagoGraphics]

Why bother if it's just going to be just a one time transaction

 

[Stacey K]

I guess it depends how much the transaction is for...$25 - forget it. $2000 - heck yes!

 

[White Haus]

I would do it! It likely means you will get paid quicker.

You would think....

We have lots of customers that pay this way and it stills falls under their "we only run payments on every other blue moon etc." excuse.

 

[parrott]

Unless it’s reoccurring business there is no point in going through the extra process.

 

[unclebun]

Typically when businesses or schools (the main place we see it) use this kind of payment system, you don't give the banking info to the customer, you enter it directly on the payment processor's website. So although you are putting that info "out there", you aren't giving it to a secretary down at the superintendent's office who is going to leaver it lying around on a desk or send a copy to her criminal colleagues.

With our school system, if you register to be paid that way, you get paid within a couple of days of the invoice. If you opt out, you have to wait until the monthly "check run" and the secretary getting the double signatures and hand mailing.

 

[Stacey K]

I had to send my info to the school secretary...hopefully she didn't send it to her criminal colleagues...

 

[Texas_Signmaker]

Yes you can do it, but I have a separate account for that sort of thing... that way you're not giving away important account numbers. At most banks, you should be able to open up extra accounts without fees.

 

[Notarealsignguy]

All of this info that you think is top secret is printed right on the bottom of your checks. I don't think anyone sends them out in an armored truck and it's usually the secretary that opens the mail. Whats the big deal?
We do have a wire only account and have to send that info to people all of the time. It is a savings account which I am pretty sure that you couldn't make a fake check and cash from that because the routing number is different.

 

[Stacey K]

Duh...that's true. I guess I don't write too many checks anymore to remember the account number and the routing number is on them. You can easily look up any bank's routing number online also.

 

[Solventinkjet]

I have 2 types of customers, the ones that ask if the site is SSL secure and in PCI compliance before ordering and the ones that send their card number, expiration date, and CCV in a plain text, unencrypted email. I delete those emails after I swear!

 

[Notarealsignguy]

I have 2 types of customers, the ones that ask if the site is SSL secure and in PCI compliance before ordering and the ones that send their card number, expiration date, and CCV in a plain text, unencrypted email. I delete those emails after I swear!

Get the CC emails all of the time or they text a picture of their credit card front back along with their drivers license

 

[ChaseO]

ACH is usually the way to go. Also, I know you said one time purchase, but once you are in their system, it is easier for them to use you for the next job. I'd fill out the paperwork and move on to the next job.

 

[Notarealsignguy]

ACH is usually the way to go. Also, I know you said one time purchase, but once you are in their system, it is easier for them to use you for the next job. I'd fill out the paperwork and move on to the next job.

Exactly. There are companies that won't setup new vendors except in rare cases. You never know what the future brings so be careful what you poopoo today because it may turn into an asset later.
When I was in sales, I have filled out credit apps for stubborn customers just to make it easier for them knowing full well that they'd never do it themselves. Once that barrier was down, it was way easier to sell them. It's the same with customers when they setup new vendors. It takes time and many would rather avoid it, so make it easy.

 

[John Miller]

We use ACH occasionally. It’s more convenient for the client and gets you the money faster. No Boogie Man here.

 

[Jean Shimp]

Thanks for all the replies. I Googled the company that processes the payments and they look legit. I also like the idea of having a separate bank account for these types of transactions. If something does go wrong I will keep a minimum amount of money in this account so I won't take a big loss if someone figures out how access the funds. Judging by the replies to this post it doesn't sound like other companies have had a bad experience with ACH set ups.