By Ending ACH Transaction Fees on Receivables, The Neat Financial Management Platform Quickly Pays For Itself
PHILADELPHIA (August 16, 2022)
The Neat Company is the only small business financial management platform to offer inbound ACH/bank transfers at no additional cost. By eliminating the standard 1% ACH transaction fee, a subscription for Neat’s all-in-one financial management platform, which offers bookkeeping, invoicing, and financial document management, essentially becomes free to any small business that has $29,000 of invoices paid via bank transfer each year. Anything beyond that is money saved for Neat subscribers.
For nearly 50 years, small businesses have relied on ACH/bank transfers for both safety and convenience when sending and receiving electronic payments. According to Nacha, the organization that operates the ACH payment system, more than 29 billion ACH payments were made in 2021. These payments were valued at close to $73 trillion. Small businesses are commonly subjected to a 1% ACH fee on every transaction, even though each transaction may cost the processor less than a quarter to facilitate. For a consultant, freelancer, or contractor, these fees add up quickly. With The Neat Company, these fees are gone.
“As a small business owner myself, I always sought to maximize value from the services I used and from every dollar that came into my hands,” said Garrett Baird, President & CEO of The Neat Company. “Neat customers deserve those same advantages. Not only will our customers be able to receive electronic payments for the invoices they issue through the Neat system, but by avoiding overblown ACH/bank transfer fees on receivables, they can effectively pay for their Neat subscription with the ACH fees they save.”
This ACH savings is the latest example of what the Neat product team works to develop and refine every day. To calculate potential savings, all small businesses need to do is identify the percentage of their receivables currently paid via bank transfer and then calculate what is 1% of that number. Neat also offers a simple calculator for those who want to see how much they can save by accepting bank transfer payments free of fees.
Neat continues to redefine how small businesses do their bookkeeping. Its platform permits small business owners to quickly and confidently manage their books and keep business finances in order — whether they’ve done it for years or are bookkeeping beginners. The Neat platform provides customers with:
- Fast and secure online payments from their customers
- Unlimited customizable invoicing in just a couple of taps
- Comprehensive financial document storage and organization
- Easy-to-use bookkeeping with real-time data from anywhere
Neat is priced at $288 for an annual subscription ($24/month) or $29 month to month with a 30-day money-back guarantee. Try Neat for free for 14 days at www.neat.com.
About The Neat Company
For more than 20 years, The Neat Company has changed how small businesses and solopreneurs manage painstaking and paper-intensive bookkeeping, customer payments, and financial record organization. Neat provides all-in-one financial management software that hundreds of thousands rely upon to bring financial order to their small businesses. Neat is helping businesses track, manage, and centralize their financial data to be prepared for tax time and stay informed about the health of their business. To learn more, please visit www.neat.com.