Payment options with checking or savings bank account
Our system offers four main payment methods: Cash, Check, Credit Cards, and ACH (taken directly from a bank account). ACH allows members to pay for ongoing memberships or bigger purchases directly from their bank account.
Permissions and Accessibility
Only customers can add or update their ACH info.
- Can setup system to accept ACH payments
- Cannot add ACH info for customer
MyStudio Plan Restrictions:
ACH is currently only available to US accounts. Our system has different admin fees for different MyStudio Plans based on payment method.
Paying with ACH
ACH is currently only available for US accounts. In order to offer ACH as a payment method for different offerings, you will first need to go to My Account > Payment Processing Options > and turn on ACH payment processing.
You can then go to Operations > Point of Sale > Settings and check the offerings you want to allow ACH payments for.
ACH can be used at all places of registration.
NOTE: However, it can only be applied towards registrations with a payment plan, such as a monthly membership, or for single transactions of more than $499, such as an event purchase that pays in full.
During registration, new customers will be redirected to creating or logging in to the member app so they can add their bank info.
Due to security reasons, you cannot enter banking info for your customer. This must be done by the customer from the member app or email link. In the member app, customers will go to the three lines > My Account > Primary Payment Method > Add New Bank Account.
Customers will then be prompted to connect to their bank account either instantly by logging into their bank, or by verifying micro-deposits which can take some time.
A note for Stripe accounts - We highly recommend connecting via the instant flow. The micro-deposit method will ONLY work if a customer is logged into the Member Web app on a browser.
Instant verification flow:
Customers will choose “Continue.”
Then select their bank.
Then continue to login to their bank. Once successfully logged in, they will choose which account within their bank (for example: savings vs checking) to connect. Once connected, bank details will display in the member app Primary Payment Method section.
Customers will choose “Manually enter account & routing info” at the bottom. Then they will manually enter their contact info, bank info, and account info.
After choosing “Authorize Account,” WePay or Stripe will send microdeposits into their bank account. It will then take up to 3 days for the system to verify the info is correct before the bank info will display in the member app.
Once added to their account, customers will be able to use the ACH for any of the following types of future purchases or registrations:
- Single purchase more than $499
- Ongoing billing
Updating a Current Payment Method to ACH
Current payment methods can be updated to ACH in the web app, mobile app, or through an update payment method link.
Primary and Registration Accounts
You can send an email link to the customer from All Customers > Primary Customers > click into the profile > Info > Add New Bank Account > Send ACH update link to buyer…
…or from All Customers > registration page > click “Send link for user update payment method” underneath the payment method.
Then they should choose “ACH bank transfer” from the drop-down and follow the prompts as described for entering the info in the member app above.
NOTE: The Micro-deposit flow for Stripe accounts will not work with these links. Customers will have to either use the instant log-in flow (recommended) or add their bank via the member web app as described before then apply the bank account to an existing registration.
Web and Mobile App
After registering with an ACH payment method or updating their ACH payment method in My Account > Primary Payment Method > Payment Options > Apply to current billing schedules, customers can choose to apply this new payment method to existing payment schedules.
If your customer updates their recurring payment method from credit card to ACH they will see a popup confirming their new total for the payments. This is due to the different admin processing fee rates between credit cards and ACH.
Once your customer clicks "Apply payment method" you will see their new payment method reflected in their membership details.
You can see total net ACH payments in a specified date range by going to Payments > Payment history and seeing the “ACH net” total above the table.
Other Affected Sections
Primary Customer Accounts