Managing ACH Fees and Enabling Payer Software Fees
This guide explains the new ACH transaction fee structure and how you can utilize the "Payer Software Fee" feature to manage these costs effectively by passing them along to your payers.
Payer Software Fee Update
The Payer Software Fee update will now allow you to offset your ACH transaction costs by passing ACH fees to your customers (payers). This feature empowers you to manage your business expenses more effectively.
How to Set Up Payer Software Fees:
*Note: If you are currently charging your parents a ‘Convenience Fee’ for Credit Card transactions, ACH fees will default to the same setting under the new ‘Payer Software Fee’. As a result, your parents who are paying via ACH will now be charged the additional amount (equal to your updated ACH rate). There will be no change for the parents paying via Credit Card. We recommend that you communicate this change to your parents in advance of August 1, to avoid confusion.
If you are not currently charging your parents a ‘Convenience Fee’ please follow the steps below to enable the ‘Payer Software Fee’:
- Navigate to Billing Settings:
- From your Smartcare dashboard, click on the "My Center" tab in the left navigation menu.
- Under "My Center," select "Billing Settings."
- Access Payer Software Fees:
- Within the "Billing Settings" section, locate and click on the "Payer Software Fees" option. This will open a side panel or modal where you can enable the fee. *
- Enable Payer Software Fees:
- At the top of the "Payer Software Fees" panel, you will see a checkbox labeled "Enable Payer Software Fees." Check this box to activate the feature.
- Configure ACH Payer Software Fees:
- Once enabled, you will see fields for "Credit Card" and "ACH" fees.
- The fields will show the Credit Card and ACH fees that will be presented to your customers as Convenience Fees.
- Save Your Changes:
- Ensure you click the "Save Changes" button to apply your settings.
What Your Payers Will See:
When the Payer Software Fee is enabled, your customers (payers) will see the applicable Credit Card and ACH fees clearly displayed during the payment process and on their receipts. The fee will be listed as a "Convenience Fee" in payer-facing receipts.
Need Assistance?
If you have any questions about configuring your Payer Software Fees or understanding the new ACH fee structure, please contact Smartcare Client Services at support@smartcare.com or 844-762-7837, option 2. Our team is ready to assist you!