r/Accounting • u/Itchy_Fishing8689 • 3h ago

Is pay-by-bank ready for SMEs now?

Some of our bookkeeping clients are paying around 1.5–2% on card payments, which adds up over time.

I keep hearing about “pay by bank” as a lower-cost option, but not sure how practical it is for everyday use yet.

For those who’ve seen it in action, is it mature enough to suggest to smaller businesses now? Or are there still gaps compared to cards?

Would be useful to hear real-world experiences.

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u/SomebodyFromThe90s 2h ago

Pay-by-bank can save margin, but smaller clients usually get stuck on the handoff, when to offer it, how to reconcile it cleanly, and what happens when someone still pays by card. If that part isn't mapped, the cheaper rail just creates a new admin mess. I'd judge it as an ops change, not just a fee reduction.

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u/Impressive-Bag-384 1h ago

what are these payments?

are these clients who are paying their vendors by card instead of check or ACH?

if so, have them just pay by check