ACH Direct Debit, a payment option for event organizers in the US
What is ACH Direct Debit?
ACH Direct Debit is a payment method that allows you to collect recurring payments directly from your attendees' bank accounts. This can be a useful option for large transactions like donations or sponsorships.
Benefits of using ACH Direct Debit
- Reusable payment method: Once an attendee has provided their bank account information, you can use it to collect future payments without needing to re-enter their details.
- Faster settlements: With ACH Direct Debit, you can receive your funds in as little as 2 days (compared to the standard settlement time of 4 days).
Things to keep in mind
- Risk of failed payments: There is always a risk that an ACH Direct Debit payment may fail, for example, if the attendee has insufficient funds in their account.
- Dispute window: Attendees can dispute ACH Direct Debit payments within 60 days of the payment date.
How Ticket Falcon can help
Through our partnership with Stripe, Stripe provides a fully hosted flow for collecting bank account details and verifying them with microdeposits. This can help reduce the risk of errors and failed payments.
Overall, ACH Direct Debit can be a convenient and efficient way to collect payments from attendees in the US. However, it is important to be aware of the potential risks involved.