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Let your clients pay by ACH bank transfer – with Iris + Square ACH. Square users located in the United States can immediately begin accepting ACH payments.
ACH payments are a simple, secure way for your clients to pay invoices – with lower processing fees than credit card payments.
That’s it! You’re now able to offer and accept payments via ACH bank transfers.
What are the processing fees?
Square ACH bank transfer fees are 1% with a minimum of $1 per transaction. Payments will be processed in 3-5 business days.
How do ACH payments work?
If a client chooses to pay with ACH bank transfer, they will be directed to a safe and secure portal to log onto their bank and select an account for payment.
Once a client pays the invoice via ACH bank transfer the funds will be in your Square account in 3-5 business days.
The invoice payment will show as ACH Pending in Iris until the payment has been fully processed. There may be a slight lag time between when the ACH payment clears and when your Iris invoice is updated. This lag should be no more than 24 hours.
You will receive an email notification from Iris when the transfer is initiated, as well as when the payment has fully processed.
Where can I learn more about Square ACH?
You can read more about Square ACH here.