What it costs:

The costs for EFT are significatly lower than the ones for credit card processing or checks. Like any other payment method, they consist of several portions that we explain seperately below for best transparency:

• ANYPAY fee:
  For our data services (collecting, validating managing and storing the EFT data, creating EFT files) we charge a very low flat fee (no % discount !) only for completed transaction.
  There are no setup or monthly charges, you're only billed for actual useage.
  

• Processing fees:
  They are charged for the actual processing by the bank or clearing service provider. They are the equivalent to the discount fee when accepting credit cards.
  With a processor of your choice, per transaction fees range from as little as $0.03 to over $0.50 per transaction, mostly depending on volumes.
  Many processors also charge setup, monthly and per file or per transmission fees.
  
  If you choose one of our partner providers, you will get a special, lower rate available only to ANYPAY customers. We checked many 3rd party providers and picked the one with the best service and pricing.
  

• Transmission fees:
  These fees are for transmitting the EFT files / transactions to the processor. If the provider offers a web-uploading tool, then there usually should be no extra fees.
  If you use some provider's software for transmitting files which you get from ANYPAY, you might just have to purchase that software and pay for phone units.
  If transactions are processed thru an online gateway, they have their own fees.
  

• Bank account item fees: *
  Most important, with EFT you are able to make batch transactions, so no matter if you process 10 or 10,000 transactions in one batch, you will have to pay for only one single account item. This is similar to weekly sweeping money from your credit card merchant account, but will never work for checks.
  And also, EFT items often have a lower fee than other item types, they might even be free with some banks.
  
  *(Most banks charge a little fee for each item balanced with your account, i.e. each item that appears on your statement. The fee may depend on the item type (eg. checks, wires, EFT) and typically range between $0.10 and $0.40 per item.
  These fees are often overlooked by merchants and never mentioned by most other payment service providers. Of course, these fees are totally independent from ANYPAY and generally apply to any payment method. But using EFT, you can dramatically reduce these costs.)

Next: How to set up EFT

Sign up now for free - it's easier to explore than to explain ;-).