Getting Paid via Direct Deposit

Last blog we talked about credit card payments, but what about direct deposit? How can you have someone pay you directly to your bank account? Let’s break it down.

GoCardless and Rotessa are both payment solutions that allow businesses to easily collect payments from their customers. GoCardless is a global direct debit solution, while Rotessa is a Canadian-based payment processing platform. Both services provide easy-to-use tools and offer a variety of features to meet customers' needs.

GoCardless allows users to collect recurring payments from customers with direct debits, as well as one-off payments from customers. Their fees for Domestic Payments are 1% + $ 0.40 per transaction. $4 max Pricing Info An additional fee of 0.3% applies to Bank Debit payments above $3,000. And International 2% + $0.40 per transaction.

Rotessa offers a comprehensive payment solution, enabling businesses to accept one-time payments, recurring payments, subscription payments, and invoices. Their fees are a little more simple with a transaction-based model. For example, between 1-10 transactions, it’s only $16 per month.

Both of them integrate with Xero so no qualms there with them. Rotessa has a little more flexibility in terms of payment options but if you’re already using Stripe or PayPal, it may not be a selling feature for you. They both can handle multi-currency and multi-currency bank accounts.

Ultimately, the best payment solution for your business will depend on your specific needs. I recommend comparing the features of both services to see which best meets your needs.

If you have questions about setting up these payment services, book a call with us.

Note: We use GoCardless at Signal so we’re fans but that’s just because we had to make a choice and chose GoCardless