Plaid's Instant ACH allows US donors to connect directly to their bank account online and approve immediate bank-to-bank transfers without making any micro-transactions. These will appear in Stripe, facilitated by the Fundraise Up Plaid integration.
Enable ACH Credit Transfer in Stripe
Stripe has a settings area called Payment Methods, where you can activate your Stripe account's ability to take certain methods of payment. To check if ACH is enabled in Stripe:
- Go to your Stripe dashboard,
- Go to Settings on the top right,
- Go to Payment Methods,
- Scroll down to Bank debits, and click the Turn on button for the ACH Direct Debit option.
Enable Plaid in Fundraise Up
Our Payment Options screen provides a step-by-step explanation for the enabling of Plaid (Instant ACH), which you can get to by doing the following:
- Go to the Fundraise Up dashboard,
- Click your name in the top right, and choose Settings from the dropdown menu,
- Click Payment Options in the left hand menu
- Click Enable for Plaid (Instant ACH)
- Click the Enable Plaid button to start accepting Instant ACH using your Fundraise Up forms!
Review how your donors will pay with Plaid vs classic ACH
When a donor paying in USD gets to the Payment Options screen of checkout, as long as one version of ACH (Plaid or classic) is enabled and their donation meets the criteria for the enabled payment option, they'll be provided a "Bank transfer" button.
Classic ACH is only available for donations starting at 95 USD. This is due to the verification steps required for classic ACH, which increase failure rate. So, if Plaid is turned off, and the donation is lower than 95 USD, the "Bank transfer" button will not appear.
If they click "Bank transfer" while Plaid is the only available option for their donation, they'll be taken immediately to the Plaid login modal where they can pay by logging into Plaid and authorizing their transaction immediately - a major time savings all around!
If they click "Bank transfer" while both Plaid and classic ACH options are enabled and available for their donation, they'll be taken to an interstitial screen called "Bank transfer" where they can either:
- click the "Instant transfer" button to instantly authenticate their transfer with a Plaid login,
- or click the "Use routing and account number" link to give their routing and account number and then verify access to the account later.
If they choose Plaid by clicking the "Instant transfer" button, they'll be taken to the login modal we mentioned before - in our findings, the quickest and best experience.
If they choose classic ACH by clicking the "Use routing and account number" link, and they fully enter their other required donation information, they'll be emailed each of the Bank Verification email templates (if set to Send) that include instructions and a button to verify their transaction, once the micro-deposits land in their account in the next 5 business days.