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Soar Payments Review

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Soar Payments Review

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Rose Holman

Rose Holman

Rose Holman is a writer, blogger, and educator from Portland, OR with an MA in Teaching from Western Oregon University. She enjoys educating SMB owners about the complicated (and notoriously sketchy) world of payment processing. Since starting at Merchant Maverick in 2016, she has also added eCommerce software to her areas of expertise.
Rose Holman

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    Joe Duarte

    Hi Rose – Is that ACH figure correct? 2.5 percent? That’s an amazingly expensive ACH fee, the highest I’ve ever seen. Normally ACH is priced as a flat fee of around 25 cents per transaction, so 2.5 percent is just incredible.

    The big hit with tiered pricing is that you don’t get the benefit of low cost debit card purchases. Interchange on most debit cards is only 0.05 percent (the so called “regulated” debit rate). So a 2.49 percent flat rate is obscene for debit card purchases.

      Rose Holman

      Hi, Joe. Thanks for your question. You are correct that 2.5% is on the high side for ACH, but it’s not out of the realm of “normal” for high-risk ACH. Also, keep in mind that with high-risk providers, we often collect a sample rate for the review, since the rates for high-risk processing are generally not as standardized as for normal risk levels. I’d recommend reaching out to Soar directly to confirm the ACH rates that would apply to your business. If you’re not high-risk at all, your rates should be much lower.

      Meanwhile, it’s also not that uncommon for ACH to be charged as a percentage, particularly for high-risk accounts. However, we definitely recommend a flat rate if you can get it, especially if your average transaction size is on the larger side. I’ve seen flat rates typically range between around $0.20 to $1.50. Of course, there are other costs to consider besides the rate itself (e.g. is there a monthly fee for the account, and is ACH processing bundled with credit card processing or stand-alone.). Check out this article for more on ACH fees and rates, and this article for more on high-risk ACH processing in particular. Best of luck!

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