Introducing QuickFee’s latest check-reducing solution for professional services firms: Bank Direct.
This online bill pay option allows your clients to pay directly from their bank account. We partner with over 8,000 financial institutions so clients can use their preferred bank’s bill pay option.
Most importantly – with Bank Direct, your clients can skip the hassle of paper checks and pay your firm securely within a few days, as part of normal ACH processing. That makes it perfect for any clients who are perpetually late on their invoices, but skeptical about online payments.
Interested in trying it out? Contact us here, or reach out to your QuickFee Relationship Manager.
Another Option for Secure and Fast ACH Processing
Consumers and businesses have long used online bill pay to guarantee that service payments will get sent on time. Your clients may even be using bill pay services to pay your firm, especially if they’re uncomfortable giving their banking information for ACH processing.
But as more and more businesses are making bill payments through their online bank portal, firms have also seen an uptick in bank-generated checks. Processing all these extra checks can lead to reduced cash flow and more manual payment reconciliation.
Enter QuickFee Bank Direct. It makes it simple for your clients to pay through their online banking bill pay function – and eliminates all the downsides of check processing.
Key benefits of Bank Direct:
- Saves valuable time: Checks still make up 50% or more of payments at most professional services firms, and they can be a hassle to store and process. Bank Direct allows you to collect fewer of those paper checks in the mail, saving both time and money on check processing.
- Faster payments: Your firm will receive all payments within days, just like a standard ACH transfer. Since the funds are transferred directly between two bank accounts, clients can also rest assured that their payments are protected.
- Simple reconciliation: It’s easy to identify and track your Bank Direct payments in the QuickFee portal so you can balance your books faster.
- Reduced risk: There’s a lower risk of NSF fees and chargebacks with Bank Direct because payment is guaranteed by the client’s bank or credit union.
Who Are the Best Clients for Bank Direct?
QuickFee Bank Direct is an ideal solution for clients who still prefer to settle their accounts with pen and paper rather than an ACH transfer. With Bank Direct, clients can enjoy the convenience of online payments while still trusting that they have the backup of their bank. Banks and credit unions also guarantee that Bank Direct payments will always arrive on time. This helps your late-paying clients stay ahead of due dates and avoid late payment charges.
If you already have clients using their online banking bill pay function, this is ideal for them too. QuickFee Bank Direct just eliminates the manual work for your firm, while still making it simple and convenient for them to pay online.
How Does Bank Direct Work?
If your client has a bill pay service available in their banking app, they can easily make payments via Bank Direct.
Even if your client isn’t familiar with online bill pay yet, it couldn’t be simpler to start. All they need is an online bank login with an active bill pay service. (Their bank should be able to help them with this process if needed.)
There are just 3 simple steps for your clients to pay with QuickFee Bank Direct:
- Client receives an invoice.
- Client logs into their bank account online (or via mobile app) and selects your firm from the bank’s bill pay options.
- Client submits a payment towards their invoice. This will be processed by QuickFee as an ACH transaction.
Bank Direct also doesn’t require your client to create any new account logins. The entire payment process is streamlined and simplified – making it more likely that they will pay you on time.
When Can I Start Using Bank Direct?
Right now!
When you’re already using QuickFee for your online payments, there is no additional cost for Bank Direct. You will simply pay a marginal percentage on each ACH transaction. To get started, you will just meet with your Relationship Manager and cover a few simple onboarding steps during the call.
If you’re still looking for the right payment service provider, we can help you set up a customized online payment link for your firm’s clients (and get it going within just a few days.) In addition to Bank Direct, you’ll get to choose from ACH, Card, and Financing options to share with your clients.
