Menu
I'm looking for a way to automate a transfer from one bank account to another, without the end user having to login to something like paypal or amazon payments to complete the process (by transferring their on-line balance to their bank account). I've looked around online a bit, and found some vendors that seem to be able to do that, but API documentation doesn't make me feel sure about it.
Can anyone recommend a service they've used to do something like this? Obviously I'm looking for a web based API. The complete process is a middleman site that collects payments (that's the easy part), then disburses the payment (less a fee) to a bank account.
Amazon Payments would be great (allowing three-party/marketplace transactions); however, we're looking for something direct to the end users bank account.
(I know this isn't strictly about code, but I figured there might be someone out there who has done something similar.)
632
What is an ACH deposit? ACH deposits are a means of sending money electronically using the Automated Clearing House (ACH) network—i.e., the inter-bank system used by 10,000+ member institutions to coordinate deposit and withdrawal requests involving bank accounts under their control.
Key Takeaways. ACH transfers are electronic, bank-to-bank money transfers processed through the Automated Clearing House Network. Direct deposits are transfers into an account, such as payroll, benefits, and tax refund deposits.
No checks can be written on the account nor can non-electronic checks be deposited into the account. Only ACH credits will be accepted. Only transfers to your Cash App are allowed. You must be a resident of the United States and at least 18 years of age.
I definitely would advise against AllianceACH.com for the time being. They got sued by their bank and we lost a $5000 deposit because they don't have the money to refund it.
I'm pretty sure they are going out of business, although not positive. If they do end up getting their act together, and giving us back our deposit, I would definitely use them again. After they stopped providing ACH services, we switched to FirstAch.com.
FirstACH.com has what you need - however I have to warn you their interface (both API and GUI) are terrible and annoying. Their customers service is inept and they aren't flexible in working with you to provide solutions tailored to your individual needs. Unfortunately they are the best we have found.
We are currently looking into Wells Fargo business solutions as an alternative, however I suspect it won't be nearly as cheap.
54
The first place I would start is with your bank. Ask them what options they have for what you want to do. I am quickly finding that a good bank is willing to sit down with you and show you at least the options that they have and provide. They know the lingo of the business and can translate that for you. In our case, we can automate the ACH process by creating an ACH file daily and FTP that file to the bank.
26
If you love us? You can donate to us via Paypal or buy me a coffee so we can maintain and grow! Thank you!
Donate Us With
