Instant Bank Direct Debit
1. SELECT YOUR BANK.
At checkout, the buyer will identify their bank from a directory of over 3,000 US banks and credit unions. It’s the same interface you’d see if you were to log in to your own bank’s online portal. To reduce the risk of losing the sale, shoppers are never diverted from website checkout page.Â
2. LOGINÂ (AS YOU NORMALLY DO)
The buyer will log into their bank’s secure online portal with the same User ID and password they’ve always used in the past. There is no need to enter a routing number or account number. This feature makes bank direct debit faster, more secure and easier to use than credit cards online.
3. CLICK TO PAY
The online shopper confirms the dollar amount of the purchase by and it’s done. The transaction is completed within seconds.
Funds settle in the merchant’s bank account the same day (or within 24 hours depending on the bank).Â
Watch the video featured below to see Instant Bank Direct Debit in action.
Perfect For All High-Risk Industries & Restaurant Take-out
Get Approved Same Day | We Don't Care If You Are On the Dreaded "Match List"- 3.25% Discount Rate
- The Discount Rate applies only to the customer's first purchase. Does not apply to future transactions.
- $0.49 cents per transaction. *After a customer's first-time purchase, only this transaction fee is applied.
- Integrates with over 170 popular website design builders
- Same day settlement of funds (depending on the time of purchase)
- Unlimited daily, weekly & monthly transaction volume
- Eliminates all risk of customer dispute charge-backs
- Perfect for Marijuana Dispensaries (customers pay online and pick-up with proof of ID)
Risk Verification: $0.49
Available Balance Verification: $0.49
When a brand new customer buys from your website the first time, our Instant Bank Direct Debit software performs an Account Onboarding (AO) and a Risk Verification (RV). A fee of $1.33⊄ will be deducted from the total sale. Our processing fee of 3.25% discount rate.
When the same customer revisits your website for future purchases, only the $0.49⊄ transaction fee will apply. This unique price structure makes instant bank direct debit up to 300% less than accepting credit cards. Once the customer is registered and approved, the processor will only run the Available Balance Verification (ABV) for each transaction. We will re-verify their risk once every ninety (90) days or upon receiving an update to their bank account.
Instant bank direct debit is the only eCommerce payment acceptance solution that permits the online sale of ANY legal product or service (including cannabis, kratom, pipes, bongs, paraphernalia, cryptocurrency, and much more).
Acceptable Products & Terms of Use
- Marijuana/ Cannabis (Must be a licensed dispensary. Customers may prepay and pick-up with proof of valid I.D.)
- CBD Oils, Gummies, Ingestibles, Topical Rubs, Isolate Powder (No COAs Necessary)
- Kratom & Kava Kava
- Paraphernalia; Glass, Pipes, Bongs, Grinders
- Neutraceuticals & Herbal Remedies
- Restaurant Take-out (eliminate all risk of charge-backs & credit card fraud)
- Cash-only businesses are strongly encouraged to use Bank Direct Debit to eliminate the risk of COVID-19 transmission.
- Must have a valid business bank account in the USA. (Sole proprietorships are gladly accepted with proof of a business bank account)
- Submit a clear color-copy of your Drivers License, State I.D. or passport. (Must be from the owner or a company principal.)
- A completed copy of the Credit Card Authorization Form and Checking Account Authorization Form.
- Completed Arbitration Agreement, Refund Policy, Signature Card, and Compliance Statement.
- Must have an active website with an SSL certificate. Our gateway plugin is compatible with all website builders.
24 Hour Approval & Activation
100% in-house underwriting. No credit check. No mountains of paperwork needed.
Integrates With Any Website
Compatible with WooCommerce, Shopify, Wix, GoDaddy, 3dCart, Big Commerce & all popular website builders.
Easy 'Click & Pay'
Online shoppers enter their bank account User ID & password, verify the amount of the purchase, and 'click-to-pay'.
Seamless Integration
With All Popular Website Builders
COVID-19 put over 45 million Americans in the unemployment line. They don't have the money to pay for their purchases. In July 2020, Visa & MasterCard report consumer charge-back disputes skyrocket to an all-time high of 20% to 50%.
Instant Bank Direct Debit offers 100% protection against consumer charge-back fraud.
Credit card charge-back fraud against merchants skyrock during the COVID-19 pandemic.
“…dispute volumes have increased anywhere between 10% and 50% compared to pre-COVID levels.”
https://www.paymentsjournal.com/dispute-management-in-the-covid-19-era/
Unprecedented Spike In Credit Card Charge-backs Against Merchants. Jaw-dropped 25% Increase In Credit Card Chargebacks.
https://www.msn.com/en-us/money/companies/mom-and-pop-shops-left-holding-the-bag-in-consumer-card-disputes/ar-BB15o6OK?fullscreen=true#image=1
45 MILLION UNEMPLOYED AMERICANS DUE TO COVID-19. THEY BUY ONLINE, THEN DEMAND A REFUND WHILE KEEPING THE MERCHANDISE.
Mom-and-pop shops left holding bag in consumer card disputes https://www.americanbanker.com/articles/mom-and-pop-shops-left-holding-bag-in-consumer-card-disputes
Article excerpt reads, “As the pandemic worsened, chargebacks climbed by about 25% compared with a year ago, according to Chargebacks911, which helps retailers manage disputes.”– https://www.msn.com/en-us/money/companies/mom-and-pop-shops-left-holding-the-bag-in-consumer-card-disputes/ar-BB15o6OK