gym assistant software
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"...everything is working great. Gym Assistant definitely helps keep the memberships current - no one likes to hear the loud beep when they are denied! They come in and hand us their payment before they can in. Thank you." -Jeff & Kristy Bussiere Women's Total Fitness

 

ACH or Credit Cards? Which is better for me?

The money from ACH transactions does not get transferred to your account immediately. ACH transactions usually take from 2-5 days for the money to transfer or for the transaction to be rejected (usually for non-sufficient funds, or NSF).

What is the Cost?

For credit card processing you will pay:

  • A monthly fee of $10-20
  • A per-transaction fee of about $.20 per charge
  • A percentage of each transaction, which will vary from about 1.7-2.0% for swiped transactions to 2.0-3.5% for batch (non-swiped) transactions.

For ACH processing you will pay:

  • A monthly fee of $10-20
  • A per-transaction fee of about $.25 per charge
  • NSF fees of $2-4 for each rejected transaction

Bottom Line: If your members never bounce an ACH transaction, then ACH is less expensive. Otherwise the NSF fees can add up. But it really depends on your member demographics.

How long before I get my money?

Credit cards win here. It takes 3-4 business days for ACH funds to appear in your business bank account, and it may take 4-5 days before you receive notice of a rejected transaction.

Credit card transactions clear in real-time -- you will know immediately if a charge was approved or declined. And the funds should appear in your bank account the next day.

Which is more convenient for members?

Almost everyone now carries a credit card or a bank card with the VISA or MasterCard logo. Fewer people have checking accounts.

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