Smart payment options for your business

Expand your payment options so you don't leave customers scrambling for their checkbooks. Save time and money as well as improve your cash flow by understanding the benefits of each option.

• Credit card processing. Improve cash flow needs with credit card processing. Fast turn-around times mean you'll typically have the funds in your account within a day. 
• Wire transfers. Payments are processed quickly so you know when to expect funds. Fees vary (for sender and receiver) depending on the type of transfer (domestic or international) and how it's initiated (online or in-person). Fees can range from approximately $15 - $50. 
• ACH payment processing. Automated Clearing House (ACH) is a good option for domestic recurring payments. Fees are low, and funds are available within 2-3 days. 
• Online bill pay. Merchant payment services¹ offer online bill pay options that make it easier for customers to pay you while simplifying the process on your end. Customers can pay using ACH, debit, or credit cards via a website customized to your business. With account reconciliation and recurring payment scheduling for customers, you streamline the process for both parties.

Think through your business operations and develop a system that helps you process payments efficiently. 

• Meet with a business banker. Determine the forms of payment you should start accepting, switch to, or stop accepting for certain transactions.
• Negotiate fees. Maximize profits by negotiating credit card fees. (Tip: negotiate per-transaction fees when you have lower transaction amounts, and negotiate percentage fees if your business handles larger transaction amounts.) 
• Determine speed vs. fees. Look at your business' cash flow and determine whether reliable payment timelines or fewer fees would be more beneficial to your bottom line and adjust accordingly.