Those utilizing mtCharge to process payments can also receive payment via ACH or Bank Transfers.
This also allows the Retailer to enable either "push" or "pull" transfers depending on their needs.
For more information about mtCharge or to enable the ability to accept ACH/Bank Transfers for existing mtCharge accounts, please reach out to email@example.com
TABLE OF CONTENTS
Enabling ACH Payment Terms
To ensure your company can fully utilize mtCharge, it is critical that the right set of Payment Terms are configured for your company in Brandwise. If one, or more, sales agencies are managing Payment Terms on your behalf, please request that they update your Payment Terms using the instructions and suggested payment here. If you have a Reach 2.0 site, please click here as you will need to update your Passport to reflect the same changes.
Options available to you are as follows:
- ACH/Bank Transfer
- Net 30-mtCharge with ACH
- Net 45-mtCharge with ACH
- Net 60-mtCharge with ACH
- Net 90-mtCharge with ACH
Processing Payments with "ACH/Bank Transfer" Payment Terms
NOTE: Pre-Authorization is not available for orders with the "ACH/Bank Transfer" Payment Term selected.
Similar to the steps in this article, using the Confirm Charge button next to the desired order that is using ACH/Bank Transfer as a payment term will allow you to initiate a bank withdrawal. confirm the Withdrawal Amount, then click Bank Withdrawal to complete the action.
For orders that contain ACH-relevant Payment Terms, an email is sent to the Retailer to add their bank account when the Salesperson first transmits the order to you. You will have two scenarios depending on the action the Retailer has taken when you process payment:
Retailer has added their Bank Account
If the Retailer has already added their Bank Account prior to you processing payment, you will be able to fill out the required information and click Bank Withdrawal (or Schedule Payment if using an ACH option with Net Terms).
If the Retailer has multiple Bank Accounts added, they will receive an email to choose the desired account for the order.
Retailer hasn't added their Bank Account
If the Retailer hasn't added their Bank Account prior to your processing payment, clicking the Process Payment (or Schedule Payment if using an ACH option with Net Terms) will send an email to the Retailer immediately, requesting they add their Bank Account.
Example email sent to Retailer:
Processing Payments with "Net XX- mtCharge with ACH" Payment Terms
NOTE: Pre-Authorization is not available for orders with Net Terms via ACH Payment Terms selected.
Using the same principle as above and with Net Terms via Credit Card through mtCharge, using the Confirm Charge button next to the desired order will allow you to schedule the account to have the amount chosen deducted 30, 45, 60, or 90 days after the button is pressed, depending on the term selected for the order, as seen in the Charge Date field.
Click Schedule Charge to schedule the charge.