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ACH vs Card Payments: Which Payment Method Should You Choose?

Learn about speed, cost, and processing times of pre-funding to decide which option works best for your competition funding needs.

Updated this week

Notch allows for two payment types when funding your competition balance: ACH and Card. Each payment method has distinct advantages and drawbacks to consider.

ACH Payments

βœ… Pros:

  • Economic: ACH transfers are completely free to use.

❌ Cons:

  • Slow: ACH transfers take 4 business days to clear.

Card Payments

βœ… Pros:

  • Fast: Card payments typically take 2-3 business days to clear.

❌ Cons:

  • Additional costs: Card payments have an additional (3.95% + $0.30) fee added to the total amount of the payment. So, in the case of a $100 payment the total charged to the card would be $104.25.

Important Note About Processing Times

For both Card and ACH payments, banking holidays do not count towards the processing times. If a banking holiday occurs in the specified timeline you will need to add an additional day to the processing time.

Recommendation

Choose ACH if you can plan ahead and want to avoid transaction fees. Choose Card payments if you need funds available quickly and don't mind the additional cost.

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