Payment service providers are delivering a new level of convenience to HOA communities by allowing them to accept HOA dues via a range of payment methods including credit card, direct debit, and ACH.
Service providers connect to acquiring banks, credit cards, and payment networks in order to enable HOAs to accept assessments online via different payment methods. This reduces HOA stakeholders’ dependence on financial institutions. A number of providers also process innovative online methods of payment such as prepaid cards, wallets and e-checks.
Payment Method 1: Credit Card
Credit cards are payment cards consumers can use as a method of payment. Cardholders can pay for HOA dues to HOAs that accept credit cards based on the holder’s commitment to pay in the future. To accept credit cards as an online payment method, HOAs use the services of credit card processing providers that make the system work.
Payment Method 2: Debit Card
Debit cards or check cards are a convenient payment method for HOA members looking for a simple way to pay for HOA dues. Instead of cash, cardholders can pay their assessments to HOAs that accept debit cards. In accepting debit cards as an online payment method, HOAs work with debit card processing providers.
Payment Method 3: ACH
ACH is an acronym for Automated Clearing House. The ACH method of payment uses debit transfers or electronic credits that enable HOA members to pay for HOA dues from their bank accounts. Most payment processors provide the option of ACH as an online payment method to their customers for monthly and subscription-based transactions such as HOA dues. Many HOAs prefer ACH payments to debit and credit cards.
Why Use DuesPayment to Collect HOA Dues?
DuesPayment provides payment processing services for many HOAs that value us as a partner. Our commitment to developing mutually beneficial relationships goes a long way to keeping them happy with us as a company. Of course, there’s also the fact that we’re experts in the acceptance of HOA dues.
No matter your size, when you partner with DuesPayment, we undertake to provide you with dedicated customized service backed by extensive HOA dues experience.