Heavy equipment dealers manage payments across equipment sales, attachments, replacement parts, repairs, service work, and other transactions. Many of those payments involve commercial customers who are accustomed to paying directly from business bank accounts.
Customers may use financing, wire transfers, credit cards, checks, ACH, or other payment methods depending on the transaction. For dealers, the challenge is having payment options that fit different situations while helping manage payment acceptance costs and the risk of returned payments.
ACH gives heavy equipment dealers another option. Customers can pay directly from a bank account without relying exclusively on credit cards, paper checks, or more manual payment processes.
With open banking, the ACH payment experience can also be easier for customers to complete.
Why ACH Makes Sense for Heavy Equipment Payments
Heavy equipment dealers may collect payments for equipment purchases, down payments, attachments, parts, repairs, service, and other dealership expenses.
The right payment method can depend on the transaction and the customer.
Credit cards remain an important option, but processing costs can become more significant as transaction values increase. A dealer can absorb those costs, reducing the profitability of the transaction, or, where permitted, impose a compliant credit card surcharge that increases the customer's cost of paying by card.
Commercial customers may also prefer to pay directly from a business bank account.
Guaranteed ACH gives dealers a digital way to accommodate that preference and can cost considerably less to accept than credit cards while providing protection against eligible returned payments.
Rather than replacing other payment methods, ACH expands the options available to both the dealer and the customer.
Make ACH Easier with Open Banking
ACH has long allowed businesses to accept electronic payments directly from bank accounts. Open banking improves the customer-facing experience.
With CrossCheck's Pay-by-Link, a heavy equipment dealer can send a secure payment request by text or email. The customer selects their financial institution, securely connects their bank account through Plaid, and authorizes the ACH payment.
Real-time account verification confirms account information without requiring the customer to manually enter routing and account numbers.
This can be particularly useful when the customer isn't physically at the dealership. A dealer can send a payment request while coordinating an equipment transaction, arranging service, collecting for a parts order, or completing another eligible payment remotely.
The payment request goes directly to the customer, providing another digital way to complete the transaction.
Give Commercial Customers Another Way to Pay
Commercial buyers often have established ways of handling business expenses. One customer may prefer a check. Another may typically use a wire transfer. Some may use credit cards for certain purchases, while others prefer to pay directly from a business bank account.
ACH gives dealers another way to accommodate those preferences.
A customer can authorize an electronic bank payment without providing card information over the phone or mailing a check. With Pay-by-Link, the customer can complete the payment from a phone, tablet, or computer.
For dealers, offering ACH alongside cards, checks, wires, financing, and other appropriate options provides greater flexibility without forcing every transaction through the same payment method.
Add Protection to ACH Payments
Accepting an ACH payment does not eliminate payment risk. ACH transactions can still be returned for various reasons.
Guaranteed ACH adds payment protection.
With CrossCheck, eligible ACH transactions receive guarantee protection against covered returned payments. This gives heavy equipment dealers an additional layer of protection when accepting bank payments.
Open banking verification and guarantee protection serve different purposes. Account verification confirms banking information before the payment is processed, while the guarantee provides protection against eligible returned payments.
Together, they give dealers a digital bank-payment option that combines a simpler customer experience with added payment protection.
Use ACH Across the Dealership
ACH does not have to be limited to an equipment sale.
Heavy equipment dealers often maintain ongoing relationships with commercial customers who return for equipment, attachments, replacement parts, repairs, and maintenance.
ACH may fit transactions such as:
- Equipment purchases and down payments
- Attachments and accessories
- Parts orders
- Repair and service invoices
- Remote payments
- Payments completed before equipment or parts are released
Making ACH available across more dealership interactions gives commercial customers another consistent way to pay directly from their bank accounts.
Make Heavy Equipment Payments Easier to Manage
Heavy equipment dealers serve commercial buyers with different payment preferences and customers who may not always be physically present when payment is due.
Their payment strategy should reflect those realities.
Credit cards, checks, wire transfers, financing, and ACH can each have a place depending on the transaction. Adding ACH with open banking gives dealers another digital way to collect directly from a customer's bank account.
CrossCheck's Pay-by-Link makes it possible to send secure ACH payment requests by text or email, while guaranteed ACH provides protection against eligible returned payments.
For heavy equipment dealers looking to expand payment options while managing acceptance costs and payment risk, ACH can be a valuable addition to the payment mix.
Explore CrossCheck's payment solutions for heavy equipment dealers.
Frequently Asked Questions About ACH for Heavy Equipment Dealers
Can Heavy Equipment Dealers Accept ACH Payments?
Yes. Heavy equipment dealers can accept ACH payments directly from customers' bank accounts for equipment purchases, parts, repairs, service, and other business expenses.
Can a Heavy Equipment Dealer Send an ACH Payment Link?
Yes. CrossCheck's Pay-by-Link allows dealers to send secure ACH payment requests by text or email. Customers can connect their bank accounts and authorize payment from a phone, tablet, or computer.
Why Would a Heavy Equipment Dealer Offer ACH Payments?
ACH gives customers another way to pay directly from a bank account and can cost considerably less for dealers to accept than credit cards. It can also be useful for commercial customers and remote transactions.
What Is Guaranteed ACH?
Guaranteed ACH provides protection against eligible returned payments. CrossCheck combines guaranteed ACH with open banking and real-time account verification to help businesses accept bank payments with additional payment protection.