ACH payments with Stripe - Accept bank payments with a few lines of code.

@momazhari Plaid is awesome. Truly awesomeness.

@momazhari (I work at Plaid) I'll make sure to pass the compliments to our Link team :)

@charleyma @momazhari Awesome! Weirdly enough, just talked to Stefan a few days ago about the open design role at Plaid :)

@momazhari awesome!! small world :)

@vozconciente Plaid will get you the ACH info, but you cannot do a transfer (as far as I know). I am actually curious how Robinhood or Acorns does the actual transfers

@mmahalwy @vozconciente their ACH transactions are typically processed through their clearing relationship.

@jcbarry @vozconciente that's correct! On a side note, Stripe is the first time we've done a direct integration with an ACH processor; historically clients would use Plaid to authenticate and then just pass that information to their processor. With Stripe, we exchange the account information with Stripe directly to generate the bank account token!

@alxmlv (I now work at Stripe) Yes, Stripe's ACH offering doesn’t currently support IAT (International ACH Transactions) and is U.S.-only... But which countries were you most interested in for bank debits?

@gabhubert @alxmlv Australia would be great :)

@gabhubert @alxmlv I totally get your point to start off this new feature in the U. S. at first... but as far as I know the U. S. citizens do have a really strong relationship to the credit card market and use them very frequently. The German market as a opposite traditionally believes more in the electronic cash technology (EC Cards) and often doesn't use credit cards at all. This new stripe feature would totally fulfill their payment needs.

@gabhubert @alxmlv Canada. Don't go anywhere else until you take care of us up here first.

@gabhubert EU (UK, Germany, Finland, Sweden, Netherlands and Denmark) would be amazing :) Right now separate bank processes and usually just invoice/transfer for all that's a mess.

@yozapli (I work at Stripe) Dwolla also charges monthly fees: https://www.dwolla.com/pricing. You need to pay $1,500 a month in order to charge more than 10 bank accounts. In general, most providers have a lot of fine-print. We tried to come up the simplest and fairest pricing we could.

@krithix @yozapli @krithix @yozapli (I work at Dwolla) Want to jump in and clear up the confusion. Neither Dwolla’s free or paid white label services charge based on the number of bank accounts with whom you move money. So whether you’re moving $5,000 to 500 accounts or $5,000 to 5 accounts, the cost of the services you’ve chosen remains the same. We work with platforms to create a fixed predictable cost that scales their platform. Our customers love it, but I agree it’s not for everyone. That’s why we don’t charge per transaction either. Instead, we offering a range of pricing packages (like, $0 or $1,500/month). With our paid programs, you're buying the additional value and flexibility uniquely made possible by our ACH infrastructure and banking partnerships (which we’ve been exclusively working on for 5 years). As for our “free" API access, they won’t offer the same level of control and flexibility as a paid package, but depending on your needs its still the simplest and most powerful free ACH API on the market. And, as Stripe will attest, both of our pricing models are inclusive of a range of services that, if bought, built, and maintained, could be much more costly and risky for a platform to operate and maintain. I do not fault Stripe for this misunderstanding. Looking at our own pricing page, I think the term “funding sources" could use some clarification. It’s meant to convey the number of bank accounts that the PLATFORM can attach to the Dwolla. So if I was a software Investment platform, I could connect MY 10 bank accounts (aka “funding sources”) to MY Dwolla account, receive next day transfers, higher limits, and move money with an unlimited number of customers for $250/month (also, not $1,500). We’ll work on this right away.

@jslampe @krithix @yozapli This clears up nothing. What the heck is your pricing?

@pbreit @jslampe @krithix @yozapli lolol <-- this

@skrypt (I work at Stripe) In addition to micropayments as an authentication flow, we integrated Plaid to enable instant verification, which allows users to use their online banking creds to authenticate their bank account (instead of the longer time frame and hassle of entering in account/routing # and waiting for the microdeposits). Hope that helps!

@skrypt which is kinda ridiculous considering it's the same information as on the bottom of every one of your checks that give to complete strangers all the time.

@jmover @skrypt That doesn't help very much. I am also worried about whether customers will be willing to enter their bank credentials to a bunch random apps

@zbijelic Yep, you can charge for subscriptions using a bank account as the payment source :)

@krithix very awesome!! Thanks