ePayments are the most cost-effective and most convenient way to get paid electronically. If you have a verified bank account, you're ready to invoice your customers and start receiving payments electronically!
There are 2 account types you can have to accept ePayments:
- Advanced account: An account with a monthly fee that has additional features such as syncing with accounting software, accepting credit card payments, sending automatic payment reminders, setting up Auto Charge, and the ability to accept payments from more people and businesses, regardless of account type or network connection status.
- Subscription-free Basic Receivables account: An account with no monthly fee that can only accept or send payments to Advanced Bill.com accounts connected via Payment Network ID through the Bill.com network.
Benefits of using Bill.com for your Account Receivables payments
For Advanced accounts:
- Low, flat transaction fee—ePayments cost a flat transaction fee instead of a percentage of the payment like credit card providers. Also, the payment fee is separated out in the billing statement, so bank reconciliation is easier.
- Accept payments from anyone, even if they don't have a Bill.com account—Simply create and send an invoice, and your customer can pay you through your unique customer portal web address on your sent invoice.
- Auto Charge—The easiest way to get paid on time, every time, because invoices get paid in full on their due date, directly from the customer's bank account (credit card also available). Learn more about Auto Charge here: Auto Charge for customers
- No manual entry—Payments are automatically applied to invoices and can be synced back to your Accounting Software.
- Direct deposit—The money is deposited within 3 business days
- Payments can only be deposited to one default bank account.
- Control—See all payments received/scheduled, and require customer contact before they change/delete bank account or credit card information in their account.
For more details on Subscription-free Basic Receivables accounts, please see Features of a subscription-free Basic Receivables account.