We’ve been getting a lot of questions about our payment modes – if and why we accept credit cards, net banking in the US. We felt that we need to explain our process further and shed some light on the banking and payment system in the US.Right now, checks are the only mode of payment with Zilra. Your clients would have to send a check to our collection center in Chicago, IL via snail mail. It can take anywhere between 1 to 3 business days for the check to reach us. Give us 2 more business days for the check to get cleared. You can get a clear idea of how this works at http://demo.zilra.co . Here are some common questions that we get about our payment modes.
Why do you not accept Net Banking as a payment mode in the US?
This is because an equivalent of ‘Net Banking’ does not exist in the US. For an inter-bank transfer, the payer would have to send a domestic wire transfer to the payee’s bank. It costs around $30 to send a wire and ~$20 to receive a wire. We are strongly against charging transaction fees and accepting payments via domestic wires would defeat the purpose of Zilra.
Why do you not accept ACH transfers as a payment mode?
This is because ACH payments are unreliable and time-consuming in the US. There is no way to track the status of an ACH payment made by the payer and a payment can take up to 7 business days to reach our bank. We believe that paper checks are far better and reliable for business payments compared to ACH.
Isn’t there any other way for my clients to pay me online via Zilra?
There is. Most banks allow their customers to send a check via online banking service. All your client has to do is login to her online banking and give instructions on writing a check in favor of Zilra, Inc. and mention the tracking code in the memo field. Here’s how they would go about paying for a Zilra invoice.
So just old-school paper checks, huh?
For now, yeah. However, we are working on an online payment solution – zCheck. Unlike ACH payments, zCheck gets cleared in 3 business days and is easy to track. For a sneak peek on this feature, please write to us at email@example.com. We plan to get this feature online later this week.