Boatyard allows you to set an ACH discount percentage that is automatically applied to an invoice when your customer pays by ACH. This is a useful way to offset credit card processing fees, since ACH transactions typically carry much lower fees than credit cards.
Click here to learn more about how to accept ACH payments in Boatyard.
Setting up your ACH discount
Go to Settings and select the Taxes & Fees tab.
Scroll down to the ACH discount field.
Enter the percentage you want to offer customers who pay by ACH. For example, entering 2.5% will apply a 2.5% discount to invoices paid by ACH.
How it works
Once configured, the ACH discount works automatically. Here is what happens from start to finish:
You send an invoice to your customer as normal.
On the invoice, your customer can see the amount that paying by ACH will save them. They select ACH and submit their payment.
Once the ACH payment has successfully cleared, Boatyard automatically applies the discount to the order. An internal note is added to the order explaining that the discount was applied due to ACH payment.
The discount is not applied at the time of payment initiation. ACH payments can fail, so Boatyard waits for the payment to clear before applying the discount. This typically happens quickly, but ACH can take up to 4-5 business days to clear in some cases.
Things to know
Miscellaneous fees
The ACH discount is separate from any miscellaneous fees on the order. If you have a credit card or processing fee configured, that fee remains on the invoice regardless of payment method.
The ACH discount is applied in addition to any existing fees, not in place of them.
This means you can set your ACH discount at a lower percentage than your misc fee to still recover a portion of your ACH processing costs. For example, a 3% admin fee with a 2.5% ACH discount results in a net 0.5% fee collected.
Existing discounts
If an order already has a discount applied, the ACH discount is added to the existing discount rather than replacing it.
Partial invoices
If you send an invoice for a partial amount, such as a deposit, the ACH discount applies to the invoiced amount only, not the full order total.
Frequently Asked Questions
My customer paid by ACH but I don't see the discount on the order yet. Is something wrong?
No, this is expected. The discount is only applied once the ACH payment has successfully cleared. ACH payments can take up to 4-5 business days, though they typically clear much sooner. The discount will appear on the order automatically once the payment is confirmed.
Why is my credit card fee still showing on the invoice when the customer paid by ACH?
The ACH discount and miscellaneous fees work independently. Your credit card stays on the invoice regardless of how the customer pays. The ACH discount is applied separately once payment clears.
Can I offer the ACH discount only to some customers?
The ACH discount applies to all invoices when a customer pays by ACH. It is not possible to limit it to specific customers.
Where does the ACH discount appear on the order?
It appears as a discount on the order once the payment has cleared. You will also see an internal note on the order confirming that the discount was applied as a result of ACH payment.
What happens if the ACH payment fails?
If the payment fails, no discount is applied. The customer would need to pay using a different payment method.