With BritePayPRO, accepting bank transfer payments from clients will follow the same payment standards as Stripe. The article below summarizes how Stripe manages payments made with ACH/BECS/BACK/SEPA.
Accepting ACH payments
BritePayPRO is powered by Stripe uses Stripe’s Financial Connections tool to allow your clients to securely pay via bank transfer. Financial Connections replaces Plaid, and can link to approximately 5,000 financial institutions, representing more than 90% of bank accounts in the United States, UK, Canada, Australia and Ireland.
Transaction limits
Most payment processors have set transaction limits (the maximum payment amount accepted for a single transaction). Transaction limits are determined by Stripe and are dependent on the payment method.
Your weekly ACH limit is set by Stripe and will automatically change over time. You may request directly with Stripe to increase this limit.
ACH fees and disputes
Accepting bank transfer payments with BritePayPRO aligns with Stripe's advertised processing fee structure plus a BritePayPRO integration fee.
Should an ACH payment fail, however, the merchant (BriteBiz user) will be charged a failed transaction fee per failed transaction. You can view this fee within the Payments section of your Stripe account.
An ACH payment dispute will also result in a fee. A dispute (also known as a chargeback) is when a client requests a refund through their credit card issuer or bank.
The card issuer or bank creates a formal dispute which immediately reverses the payment. The payment amount, along with a separate dispute fee of $15 (or regional by currency), is deducted from your account balance.To learn more, please see Stripe's support article on disputes.
ACH payout speeds
After a client pays you, there are specific timeframes before the funds reach your bank account — this timeframe is known as payout speed. With BritePayPRO, these timeframes will not change from what you’re used to with Stripe.
There are two timeframes to add up before funds reach your bank account:
Settlement time: The time from when a client pays in BriteBiz to those funds reaching your Stripe account. This depends on your client’s payment method.
Payout time: The time from funds in your Stripe account to transfer to your bank account. This depends on your country.
When your clients pay with Bank Transfer, settlement time usually takes around 4 business days for those funds to reach your Stripe account. The time is because funds need to be cleared first before they become available.
Stripe provides payout time averages, but the exact time it takes to receive a payout may vary. The table below lists payout speeds by country (add four days to each for total settlement time):
Country | Payout speed |
United States | 2 business days |
Canada | 3 business days |
United Kingdom | 3 business days |
Europe (UK and EEA) | 3 business days |
Australia | 2 business days |
Here’s an example if you are based in the United States:
Your client pays in BriteBiz on Monday morning by ACH. You can expect to see those funds in your Stripe account on Friday. Later in the day on Friday, you transfer those funds from Stripe to your bank account. You can expect funds to arrive in your bank account on Tuesday or Wednesday, depending on how late you initiated the transfer on Friday.
⛔ Heads up! Stripe does not facilitate weekend or holiday payouts, which may cause additional time for payouts.