Getting Started with Helcim Bank Payments (ACH or PAD Payments)
Please note that Helcim Bank Payments are currently in beta and are only available to small number of accounts. The Helcim Team will be in touch when the feature is released to all merchants.
Your Helcim account lets you accept payments in multiple ways, including by collecting funds directly from your customers’ bank accounts. Helcim Bank Payments, also referred to as ACH Payments in the US and PAD Payments in Canada, are automatically available with your account.
Educational Institutions, FireArms Sales, Pawn Brokers, Precious Metal Dealers, Tour and Travel Companies, Charities, Used Car Sales, and Auctions are not eligible for ACH or PAD Payments.
You can collect Bank Payments using the following tools in your account:
- Online Invoicing
- Recurring Invoicing
- Subscription Management
- Virtual Terminal
- Payment Requests
Helcim will automatically generate payment agreements for customers to authorize and you receive the funds directly in your bank account within four business days.
Common Questions About Helcim Bank Payments:
What are Helcim Bank Payments? Also referred to as ACH (Automated Clearing House) PAD (Pre-Authorized Debit), these payments are used for accounts receivable, they allow money to be withdrawn from your customer’s bank account and sent directly to your own. Unlike credit cards that have Interchange Fees, bank payment transactions are much more affordable.
How long do funds take to be deposited? Deposits will typically appear in your bank account within 4 business days, depending on the time of day that your transactions are settled. Your daily bank payment transactions are batched together, and deposited to your bank account net of processing fees.
Is there an amount size limit per transaction? Bank payment transactions are limited to $25,000 per transaction.
How long do I need to wait before debiting a customer's account? Canadian merchants need to obtain authorization to use bank payments at least three days before requesting their first payment. This applies to the first payment for each customer.
What if my business doesn’t want to use bank transfer payments? You can turn off bank payments under your account settings.