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Pay by bank can offer businesses an affordable, flexible, and highly efficient solution to accept payments directly from customer bank accounts.
The payment method is already popularized across Europe, Asia and South America, and now it’s becoming commonplace in the United States.
Many US consumers already pay their bills, fund digital wallets, and send money to friends using online banking. Now, pay by bank offers a convenient user experience, alongside modern enhancements for bank to bank transactions in virtually any use case.
This guide will update you on what’s new and exciting with pay by bank in the US — plus the best partners to work with:
In the United States, pay by bank is an emerging payment method that enables customers to link a bank account to initiate and complete transactions.
Shoppers simply select ‘pay by bank’ at checkout, link an account using their online banking credentials and pay.
For these customer-initiated transactions, funds are transferred on the Automated Clearing House (ACH) network, and typically processing on the Same Day.
Pay by bank is different from traditional electronic bank transfers (like eChecks). This is because the process of connecting a consumer bank is completed using open banking APIs instead of manual entry of account and routing information.
Because pay by bank creates a secure, direct connection between the consumer and the business, it delivers powerful advantages:
*This functionality is unique to Aeropay.
“Pay by bank is the next generation of bank to bank payments. Previously, bank transfers mostly made sense for direct deposits, bill payments and payroll. Now, pay by bank fits nicely in most cases where we’re already paying by card.”
Not all pay by bank solutions are created equal. To deliver real business value, the best providers combine modern bank connectivity with built-in intelligence that optimizes performance and reliability.
But mostly, the best US pay by bank providers are designed for the unique needs of U.S. businesses.
Here’s what to look for:
An effective pay by bank solution will make it easy for users to get started. The goal is to onboard users in as few clicks as possible to avoid friction at checkout.
For example, Aeropay offers an embedded SDK where users can select and log in to their online banking to link an account for payment.
Inside tip: Keep an eye out for solutions that use third party data aggregators to link bank accounts. This can result in higher costs and reduce your control over the payment experience.
Some pay by bank providers still rely on outdated methods to verify a user’s bank account. This tends to create friction, delay onboarding and increase the chance of user drop-off.
The best providers use instant account verification via secure APIs to link accounts in seconds. This improves user conversion, reduces friction at checkout and provides rich data for smart risk management.
Without the right fraud controls in place, bank payments can be vulnerable. That’s why leading providers use machine learning models to evaluate transactions in real time, flagging potential risks before they happen.
For example, Aeropay’s system assesses user behavior, account data and transaction context across its entire network to help approve the highest possible number of good payments, while blocking bad ones.
Intelligent pay by bank platforms use historical transaction data, real-time balance checks, and network-level user insights to keep approval rates high while minimizing payment returns. Aeropay, for example, consistently sees approval rates above 90%, even with guaranteed settlement.
A strong provider should also offer fair, transparent pricing. Look for flat-rate or per-transaction models that are easy to forecast—without hidden fees or complicated tiers. And when questions come up, you want a support team that understands your business and helps you troubleshoot quickly.
While pay by bank becomes increasingly popular for US businesses, there are some serious considerations you must make before choosing a solution.
Every business will have unique needs that fit better with certain providers.
This list of pay by bank solutions is based on a number of factors, including:
Aeropay is the only pay by bank platform that’s designed from the ground up for US businesses. Since 2017, Aeropay has been powering modern online bank payments for thousands of merchants and millions of consumers across the country.
Our true end-to-end pay by bank solution handles the entire payment flow, from onboarding to settlement. This full stack ownership means Aeropay merchant partners can reliably integrate pay by bank for lower overall costs and improved overall outcomes.
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Here’s a closer look at what sets Aeropay apart:
Choose Aeropay if: You’re a US business in gaming, fintech, e-commerce, cannabis, property management, invoicing or another payments-focused vertical. And you’re looking to cut transaction costs by up to 50%, while increasing user conversion and retention by as much as 25%.
Plaid is best known for helping apps and platforms access bank data, enabling features like balance checks, transaction histories and identity verification.
Recently, Plaid has expanded into payments, offering pay by bank functionality.
This move makes sense given Plaid’s bank connectivity. And because many consumers are already familiar with the Plaid login interface, it can make onboarding feel more familiar.
But Plaid’s pay by bank tools are still evolving, and the platform may not be the right fit for every business — especially those with high-volume or payments-first needs.
Choose Plaid if: You’re building a data-rich financial app or want to add basic pay by bank functionality with broad institutional reach—but don’t need payments-first performance or cost optimization.
Founded in Sweden, Trustly has established itself as a significant player in the European open banking landscape, facilitating direct bank transfers for consumers and businesses. In recent years, Trustly has expanded its operations to the US, aiming to replicate its European success.
While Trustly has strong global experience, its US offering isn’t fully designed for domestic needs. It uses third-party partners to complete key parts of the payment flow, which can lead to higher transaction costs and lower approval rates compared to more integrated platforms.
Choose Trustly if: You are operating a business in Europe.
Paysafe is a legacy provider known for its presence in online gaming and digital wallets. In 2024, it launched a pay by bank product in the US, primarily for iGaming merchants.
The solution isn’t full stack and depends on third-party services, which can introduce friction. It also doesn’t offer instant settlement and tends to come with variable, high transaction costs, especially as volume scales.
Choose Paysafe if: You’re already using other Paysafe services or want to test pay by bank for a niche use case.
Choosing the right pay by bank provider will make a meaningful difference in how your business scales, retains customers, and protects revenue.
At Aeropay, we’re setting a new standard for what pay by bank should deliver: higher approval rates, lower transaction costs, smarter fraud prevention, and an efficient payment experience that keeps users coming back.
If you’re ready to future-proof your payments and unlock real results, it’s time to add Aeropay for pay by bank.
