Note: Materio is no longer onboarding new customers onto Stripe. To seamlessly accept online payments from your clients, use MaterioPay instead for an improved payments experience. Learn more.
Stripe is the payment processor that powers online payments for Materio invoices, making it convenient for your clients to pay you via credit card, ACH, or wire transfer. However, ACH transfers start with some limitations when your Stripe account is brand new.
This article walks you through everything you need to know about ACH transfer limits for brand new Stripe accounts, and how to work with them.
Stripe ACH transfer limits explained
For around the first four months of using your new Stripe account, Stripe will set a low limit ($6,000/day or $10,000/week) on payments using the ACH transfer payment method. This is an anti-fraud measure on Stripe's end. Because they bear some additional risk with ACH transfers, they use this limit as a protection while they get to know your firm.
Fortunately, these limits only affect payments made by ACH transfer -- credit cards and wire transfers have no limit. And, this only affects brand new Stripe accounts -- if you already had a Stripe account and ran invoices through it prior to connecting Materio, this should not be an issue.
Working with Stripe ACH transfer limits
Stripe's limits are temporary, and Stripe usually raises it once you have run about four months of transactions through them. In the meantime while you are still building up that transaction history, we recommend doing the following so that your clients don't run into issues paying you:
1. For small invoices that are within that limit, no action is necessary. Keep the default settings where ACH transfers are enabled, like this:
2. For larger invoices that would exceed the limit, disable ACH transfers and enable Wire transfers instead. For more details and tips about this, watch this short explainer video.
3. By reaching out directly to Stripe Support, you may be able to get them to increase your processing limit earlier. Go to this page and click "Contact Support" to request an increase directly from Stripe. Note that Stripe grants this on a case by case basis. They will still want to see at least some transaction history in your Stripe account, so it is best to run at least one or two months of transactions through your new Stripe account before making this request.
Summary
The ACH limit on new Stripe accounts is a temporary inconvenience, but the above tips should help you get through this ramp-up period with Stripe, and into an online payments setup that both saves your firm time and effort and provides your clients a seamless experience for payments.
In the meantime please reach out to Materio support if we can assist you in any way. We are here to help!