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How to change your Eddy payment method to ACH

Making the transition from credit card to ACH (Automated Clearing House) payments for your Eddy subscription can help reduce your payment processing costs while improving payment reliability. This article will walk you through how it's done.

Why Switch to ACH?

Switching your Eddy subscription from credit card to ACH payments delivers compelling financial and operational benefits that make it an essential business decision. 

  • Cost savings: ACH payments have no charge compared to credit card processing fees—meaning a $500 monthly subscription could save $12-17 per month or $144-204 annually.
  • Always updated: Since bank account information doesn't expire like credit cards, you won't have to worry about keeping your billing info updated.

Prerequisites for ACH Setup

Before initiating the switch to ACH payments for your Eddy subscription, ensure you have:

  • Account Owner Access: Only users with Owner permission can modify payment methods

  • Business Bank Account: An active business checking or savings account

  • Bank Account Information: Routing number, account number, and account type

  • Authorization Capability: Ability to provide electronic authorization for recurring debits

Step-by-Step Guide to Switch Your Payment Method

To change your payment method to ACH, login to Eddy and go to the Admin Settings page. Click on the Plan & Billing tab and look on that page for the Payment methods card.

The Payment methods page opens a new page hosted by our billing partner, Stripe. On this page you'll find a link to Add payment method.

On the Add payment method page, select US bank account. From here you can click on your bank or use the search bar to find it.

Follow the on-screen prompts to connect to your bank account.

You will connect directly to your bank through a secure portal, and provide your online banking credentials through the secure connection. Account verification will complete immediately, so there is no waiting period required.

Manual Account Setup

If your bank is not listed, contact our support team so we can help you manually setup the account. We'll gather your routing and account numbers and go through a process to verify your bank account:

  • Eddy will send two small deposits (typically $0.01-$0.99) to your account

  • Check your bank account within 1-2 business days for these deposits

  • Work with Eddy customer support to communicate the exact deposit amounts