What are the processing fees for credit card and ACH transactions?
The processing fee is 3.25% for all credit card transactions including VISA, Mastercard, Discover, and American Express. ACH transactions of any size are processed at a flat $3 fee.
What is the funding timeline for processed transactions?
Credit card, debit card, and ACH payments will take approximately 2 business days to settle to your bank account.
How do I track my transactions?
Once you sign up there will be an email sent to you with a link to your online dashboard. From your dashboard you can track all transactions, export them, change user permissions, and check statuses of all transactions. In addition, you and your team will receive an e-receipt for each transaction. You can subscribe and unsubscribe from these notifications per user.
How do I know when a payment has been made?
The moment a payment is made, an e-receipt is sent to all parties (the payer and anyone in your organization that subscribes to the e-receipts). The payment is also reflected in the dashboard in real time.
How do I know what transactions are depositing into my account?
Batches in our dashboard represent daily deposits that are sent to your bank account. Those batches align to the penny with deposits that hit your bank account. Our system creates one batch per day that could include multiple transactions. You can see a breakdown of all of the transactions within a batch by logging into our online dashboard.
Can I add a link to my webpage or email footer for my payment page?
Yes, you can find the buttons on our PayNow page. Just pick the button you like best and send that with a link to your web designer. If you need further assistance, we’re happy to help.
What happens with an NSF alert (non sufficient funds) or other bounced ACH transactions?
When a bounced ACH occurs, we notify you and the payer immediately by email. ePayPolicy will debit your account for the funds. We typically know funds are rejected after 5 or 6 business days from the transaction. This works in the same way as a paper check where the funds may look good initially but are later pulled back.
You will still be charged the transaction fee on the original transaction. Let’s say the payer makes a payment of $1000. We collect $1003 and deposit $1000 into your account. If the transaction bounces, our system will debit your account for $1003 so you’ll be net-negative $3 on that transaction. Many of our clients turn around and ask their customer to pay an additional bounced check fee for the inconvenience.
Can I “build” ePayPolicy’s platform into my site, so that customers do not go to external site for payment processing?
Can I void or refund a transaction?
Yes, you can void a credit card or ACH payment from your dashboard. It has to be done before 8pm Eastern of the initial transaction. There are no charges to you or the payer for issuing a void.
You can also refund a credit card transaction between days 2 and 60 after the original transaction and can refund an ACH transaction between business days 6 and 60. This is because ACH transactions take longer to fully settle and we want to protect you from issuing a refund to occur until that happens. Using our dashboard, you will be able to make full and partial refunds. There are no additional fees for refunding a payment.
Are these transactions secure?
ePayPolicy doesn’t store any credit card or ACH information. Once a payment has been made, verified, and processed, we then expunge the client data from our system. We are PCI Level 1 compliant which is the highest level of compliance from the Payment Card Industry. We go through an annual audit of our systems and processes to ensure we are doing everything possible to keep you and your customers’ information secure at all times.