How much do pay by bank providers charge per transaction?

Pay by bank quotes rarely line up. One provider quotes a flat fee, another a percentage, a third a percentage with a cap, and fees for returns, verification and payouts often sit outside the headline rate.

US pay by bank providers typically charge 1% to 1.5% per transaction, sometimes with a flat fee of $0.15 to $0.25 on top. Some charge a flat fee per payment or cap the percentage instead, so the cheapest model depends on your average payment size. Fees for returns, verification, faster settlement and payouts are often charged separately.

For how those rates compare with card fees, see Pay by bank vs. credit cards: which costs merchants less?

Which pricing models do pay by bank providers use?

Pay by bank providers price each payment in one of four ways, and each model favors a different order size.

Which model costs least at your order size?

No model is cheapest at every order size. The rates below are hypothetical, chosen only to show how each model behaves, and are not any provider's prices.

A percentage fee wins on small orders, and a flat fee or a cap wins on large ones. Run your own order-size mix through each quote before you compare headline rates.

Which fees sit outside the per-transaction rate?

Most of the difference between two quotes sits in fees the headline rate leaves out. Ask every provider for each of these in writing:

• Return fees. A charge each time a payment comes back, plus the returned payment itself if the provider doesn't cover it.
• Verification fees. Some providers charge separately to link and verify each bank account.
• Faster settlement. Some providers charge a premium for same-day or real-time settlement over standard ACH timing.
• Payout fees. Some providers price refunds, withdrawals and seller payouts separately, and real-time payouts usually cost more than ACH.
• Monthly minimums and platform fees. Some low per-transaction rates come with a minimum monthly bill.
• Fraud and risk tools. Some providers sell advanced risk scoring as an add-on.

How do you compare two quotes fairly?

Put every quote through the same four steps, because the lowest headline rate is often not the lowest total cost.

1. Apply each quote's per-transaction pricing to your real order mix from the last few months.
2. Add every add-on fee from the list above at your expected volume.
3. Add your expected return losses, based on your current return rate.
4. Subtract any returns the provider covers.

Step 4 is where the biggest gaps open. A provider that charges a little more but covers returns can cost far less than one with a low rate that leaves you holding every return. We built Aeropay Guaranteed ACH for this: it covers eligible bank-initiated returns, across 50+ return types including insufficient funds, up to the merchant's agreed coverage limit.

For the full total-cost view in an online store, see What's the cheapest way for an e-commerce store to accept bank payments? For the wider provider evaluation, see How to choose a pay by bank provider in the US.

Frequently asked questions

Why do some pay by bank providers charge a flat fee?

Moving a payment over ACH costs a provider about the same whether it's $20 or $2,000, so a flat fee tracks the provider's own cost. A flat fee suits businesses with large average payments, such as account funding or high-ticket orders, where a percentage fee would grow with every dollar.

Do pay by bank providers charge consumers?

Most pay by bank providers charge the business, not the customer, so the customer pays nothing to choose a bank payment at checkout. Ask each provider in writing whether any fee is ever passed to payers, such as a charge for instant withdrawals or refunds.

Does verifying a bank account cost extra?

Verification is sometimes charged separately. Some providers bundle bank linking and verification into the per-transaction rate, and others charge per linked account. Micro-deposit verification adds its own cost: two test deposits per account, plus a wait of a day or more before the first payment can go through.

So what will pay by bank cost your business?

US pay by bank providers typically charge 1% to 1.5% per transaction, sometimes plus $0.15 to $0.25, through flat, percentage, capped or blended models. Which model is cheapest depends on your order sizes. Price each quote on your real order mix, add every outside fee, and subtract the returns the provider covers. That total is what pay by bank costs you.

Want to see what pay by bank would cost on your order mix? Run your volume through our savings calculator.