With Materio, your firm can accept online payments for your invoices. You can control which payment methods to accept as well as who covers the fees. Materio then automatically matches each online payment to its proper invoice.

Here are some guidelines for choosing which payment methods to accept in different situations:

Credit cards are the fastest and easiest way for clients to pay small to medium amounts. However, they are not ideal for larger amounts, when both processing fees and the risk to your firm in disputes become substantial.

ACH transfers are a low-cost option for small to medium payment amounts when a several day delay is acceptable. However, they are not ideal for very large amounts, because of caps on the amounts that can be transferred as well as the risk to your firm of an ACH reversal in the event of a dispute.

Wire transfers are the gold standard for accepting large payments quickly and safely. They usually complete the same day and have the highest limits on the amounts that can be transferred. Additionally, wire transfers offer your firm the strongest protection against disputes, because they cannot easily be reversed once sent.

Wire transfers have fees both to send the payment (outgoing) as well as to receive the payment (incoming). Clients cover the outgoing fee, which is determined by their own bank and typically costs between $0 to $30 per wire. Your firm covers the incoming fee, a flat $15 per wire. If your firm wishes to cover your client's outgoing fees as a courtesy, you can ask your client how much their bank charges for outgoing wires, then add a credit to their invoice for that amount prior to sending it to them.

Here are some additional resources related to online payments: