Invoice2go offers secure online payment options to help you get paid faster. By using our ACH (Automated Clearing House) payment services, powered by BILL, you can provide your clients with a seamless way to pay invoices directly via bank transfer.
General
What are Invoice2go ACH Payments?
Invoice2go ACH payments allow your clients to pay you via secure online bank transfer. This feature is designed to help small businesses get paid faster and more securely while reducing the manual effort of tracking paper checks.
What are the benefits of using ACH through BILL?
Faster Processing: Get funds into your account quicker than traditional check deposits.
Automated Admin: Payments are automatically matched to your invoices and estimates within Invoice2go.
Secure Infrastructure: Payments are processed through our partner, BILL, a leader in financial operations software.
Lower Costs: ACH transfers are typically more cost-effective than credit card transactions.
Are there any fees associated with ACH payments?
While Invoice2go provides the platform for managing these payments, specific transaction fees may apply depending on your plan. Please refer to your account’s "Account Settings" or "Payments" section for the most up-to-date fee schedule.
Onboarding & Verification
What information do I need to provide to accept bank payments?
To comply with federal financial regulations (specifically "Know Your Customer" or KYC laws), you must verify your business identity. At a minimum, you will need to provide:
Key details about your business:
- Business type
- Business registration number (EIN)
- Contact details
- Date and State of incorporation
Key details about you:
- Full name
- Address & contact details
- SMS text capable phone number
- SSN
- Residency status
In some cases, we will need to conduct additional identity verification where we may ask for:
- Photo of your passport, driver's license, or government-issued ID
-
Proof of address, such as:
- Utility bill (Gas, Electric, Telephone, Cable, etc.)
- Pay Stub
- Lease Agreement
- Vehicle Registration Card
- Voter’s Registration Card
- Mortgage Statement
- Bank Statement
- Proof of external bank account ownership, such as a bank statement
Why is this sensitive data required?
Federal law requires financial institutions and their partners (like BILL) to verify the identity of users to prevent money laundering and financial fraud. This ensures the payment network remains secure for both you and your customers.
How do I connect my bank account?
You can securely link your bank account within the Invoice2go payment settings. Once connected and verified, funds collected from your clients via ACH will be automatically disbursed to this account.
Transactions & Payouts
How long does it take for transactions to be processed?
ACH Transfers (Debits)
Typically, most ACH transactions (when clients pay you) will take 3 business days to process.
For eligible customers, ACH transfers may be processed and deposited next-day depending on your account standing.
ACH Transfers (Credits)
If you have auto-transfers (payouts) enabled, transactions will typically take 1-2 business days to process.
Once payouts are processed via BILL, the final availability of funds is determined by your external bank and their specific deposit timelines.
Processing Windows and Cut-offs
All ACH transactions have a cut-off time of 3 PM Eastern Standard Time.
Any transactions made after this time will be processed the following business day.
Transfers are not processed on weekends or bank holidays.
Deposits from External Accounts
Deposits to your linked account are typically received within 3 to 5 business days from the date the transfer was initiated by the external bank.
Refer to your specific financial institution for more information on their outgoing transfer timeframes.
What are the transfer limits?
Transfer limits are determined by several factors, including your account history, standing, and transaction volume. These limits may vary between users.
Daily Limits: Typically range from $1,000 to $10,000 USD.
Monthly Limits: Typically range from $5,000 to $50,000 USD.
If you require a limit increase for a specific high-value invoice, please contact Invoice2go support.
Does Invoice2go support multiple currencies for ACH?
Currently, ACH payments through BILL are supported for USD transactions only and require a US-based bank account.
How do auto-transfers work?
For accounts that have been verified, BILL will automatically attempt to push new ACH payments into your selected bank account after 3 p.m. EST each business day.
Once these payouts are initiated, the timing of the funds appearing in your account depends on your external bank's processing schedule, typically appearing within 1-2 business days.
Note: All ACH payment services are now processed through BILL. References to legacy banking features or previous partners no longer apply to current Invoice2go accounts.