Relay’s new Payment Request feature is designed to make it easier for businesses to collect payments securely and efficiently. In this article, we’ll dive into the key details regarding processing fees, payment limits, and the timelines involved when using the Payment Request feature. Knowing how these work will help you manage your payments more effectively, avoid surprises, and ensure that your business is getting paid as quickly as possible.
Processing Fees
Fees will be deducted from each card payment, by Relay, before it settles in your account. The fee will be apparent within each payment’s transaction details once it settles in Relay. Fees will not be waived by Relay, and cannot be passed along to a customer to cover. We recommend offsetting fees by predetermining the fee and adding it to the amount you ask each customer to pay.
| Item | Starter | Grow | Scale |
|---|---|---|---|
| Online Card Payments | 2.9% + $0.30 | 2.9% + $0.30 | 2.9% + $0.30 |
| ACH Pull (Pay-by-Bank)* | 1.00% | 0.75% | 0.50% |
| ACH Payments | Free | Free | Free |
| Wires (Incoming Only via Payment Requests) | $5 | $5 | $5 |
| Settlement Timeframe (ACH Pulls) | 2–3 business days | 2–3 business days | 2–3 business days |
| Settlement Timeframe (Card Payments) | 2–3 business days | 2–3 business days | 2–3 business days |
| Cost to Your Customer | $0 | $0 | $0 |
*Pay by bank payments are based on your account limits for ACH Add Funds
Settlement Timelines
Credit/Debit Card
Credit/Debit Card payments have a 2-3 business day destination timeline. Additionally, all card transactions that happen on a business day will get deposited in a single payout. For instance, if you received two card payments for $50 on Monday, a unified payout of $100 (less any applicable fees) is deposited into the settlement account by Thursday.
ACH/Domestic Wire
ACH/Domestic Wire payments will have a destination timeline based on the sending bank.
Pay by bank (ACH Debit)
Pay by bank (ACH Debit) will have settlement times of 2-3 business days to reach the destination account. When the payer authenticates their bank and confirms the payment the funds are withdrawn from the payer's account the same day. If there are not enough funds at the time of authentication, the payment will fail.
Limits
Pay by bank (ACH Debit) limits are directly tied to your account limits for ACH Add Funds which can be found in your account by following the steps in this article.
Still have questions? Our team is ready to help! Contact us