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# How to enable bank payments?

At Payyit, we’re committed to helping businesses get **paid faster while reducing processing costs**. That’s why we introduced **Pay by Bank**—a secure, cost-effective way to receive payments directly from your customers’ bank accounts.

With **fees starting at 1.5% + 49¢ per transaction**, Pay by Bank is a more affordable alternative to card payments. **Payments settle in two business days or less, and payouts are processed instantly via FedNow—even on weekends and holidays. ⚡**

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**Why Enable Pay by Bank?**

✅ **Lower Fees** – Fees start at 1.5% + 49¢ per transaction, offering significant savings compared to card processing.
✅ **Faster Payouts** – Payments settle in two business days or less, and payouts are processed instantly via FedNow, 24/7—including weekends & holidays.
✅ **No Credit Check** – No credit check is required to enable this feature.
✅ **No Transaction Limits** – Accept unlimited ACH payments with no restrictions.
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🔎 **What is FedNow?**

FedNow is an instant payment service launched by the Federal Reserve, allowing financial institutions to process and settle payments 24/7, 365 days a year—including weekends and holidays.

**How Does FedNow Benefit You?**

⚡ **Faster Access to Funds** – Payouts are processed instantly after settlement.
🕒 **No Waiting Periods** – No more delays due to bank holidays or weekends.
✅ **More Reliable Cash Flow** – Funds are available in real time, improving business cash flow.

With Payyit’s Pay by Bank, payouts happen **instantly after settlement** via FedNow, ensuring you get paid faster than traditional ACH or card transactions.

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🔑 **How to Enable Pay by Bank**

Setting up Pay by Bank is quick and hassle-free:

1️⃣ **Verify Your Identity** – Identity verification is required to process both card and bank payments. 📌 [Verify Identity Here](https://dashboard.payyit.com/app/accounts/verification)

2️⃣ **Apply for Pay by Bank** – It takes just a few minutes to complete your application. 📌 [Apply for Pay by Bank Here](https://dashboard.payyit.com/app/pay-by-bank)

3️⃣ **Approval Process** – Applications are typically approved within 4 hours, depending on the queue.

4️⃣ Once approved, your customers will be able to **select Pay by Bank as a payment option at checkout**.
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💰 **How Customers Pay You with Pay by Bank** ****

Your customers can pay using one of the following methods:

🔹 **Enter Account & Routing Number** – Customers manually input their bank details.
🔹 **Login via Plaid** – Customers securely connect their bank account for quick payments.

_✔ No extra steps. No delays. Just simple, secure payments._
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**❓ Need Help?**

We’re here to ensure a smooth experience! If you have questions or need assistance, reach out to us:

💬 **Chat with Us** – Tap “Chat with Us” in your Payyit Dashboard for real-time support.
📧 **Email Support** – Contact us at hello@payyit.com for assistance.
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**Ready to start saving on processing fees and getting paid faster?**
📌 [Apply for Pay by Bank Here](https://dashboard.payyit.com/app/pay-by-bank)