What are Bank-Only Transfers?

The Bank-Only Transfer feature enables businesses to limit invoice payment methods exclusively to bank transfers. By activating this option, businesses can ensure clients make payments solely through bank transfer, eliminating credit card transactions entirely.

This feature is designed to:

Enhance customization of payment methods.
Support businesses operating in regions or industries where bank transfers are the norm.
Reduce transaction fees associated with card payments.

Key Benefits of Bank-Only Transfers

Lower Costs: Avoid high processing fees associated with credit card payments.
Business Flexibility: Cater to clients and industries that prefer or require direct bank-to-bank transactions.
Simplified Payment Process: Streamline invoicing by focusing on a single, secure payment option.

How to Set Up Bank-Only Transfers in Invoices

Step 1: Access the Invoices Section

Log in to your CRM account.
Navigate to the Invoices section from the main dashboard.

Step 2: Create or Edit an Invoice

To create a new invoice, click on + Create Invoice.
To edit an existing invoice, locate it in the list and click Edit.

Step 3: Select Bank Transfer Payment Option

Scroll to the Payment Options section.
Choose Bank Transfer as the exclusive payment method.

Step 4: Save and Send the Invoice

After configuring the payment option, click Save.
Use the Send Invoice button to email the invoice to your client.

Common Use Cases for Bank-Only Transfers

Regional Needs: Businesses in areas with low credit card usage.
Transaction Fees: Companies that are aiming to minimize transaction costs by avoiding card processing fees.
Secure Payments: Clients requiring direct and secure bank-to-bank transactions.

Frequently Asked Questions

Q: Can I enable both card payments and bank transfers on the same invoice?
Yes and no. You would need to enable "All Valid Payment Methods", which would enable more than just card payments and bank transfers. This specific feature is designed to make bank transfers the exclusive payment option for an invoice.

Q: Does this feature require Stripe integration?
Yes, enabling bank transfers involves configuring your Stripe account to handle these payments. To learn more about setting up bank transfer capabilities.

Q: Is this feature available for all CRM plans?
Yes, as long as invoicing is included in your plan.

Q: How do I track payments made via bank-only transfers?
Payments are recorded under the Invoices section, similar to other payment methods.