Zero Cost Processing • No Fee Processing
Cash Discount • Cost Free Processing
All names for an idea that is a paradigm change in the payment processing industry. Based on recent court rulings, Benchmark is legal and compliant in all 50 states to save your Home inspection business up to 100% to accept credit cards.
You may be asking yourself how is this possible?
In the last few years, the federal government ruled that merchants can recover payment processing fees by offering a cash discount. The Durbin Amendment, part of the Dodd-Frank Law opened the door to merchants to pass the processing fee to the customer. The secret is, that this is not a surcharge. Zero Cost Processing offers those who pay by cash, a discount.
So, how does this apply to my Home inspection business because I process my transactions through ISN, and I do not take cash payments?
If your customer does not want to pay the technology fee of 3.50 %, they have an option to pay via ACH with no fee. Paying by ACH (essentially cash) is what makes this legal in all 50 states. Below you will see how we customize the Inspection agreement e-mail template that you send to your customer through ISN.
Take a Look at our Frequently Asked Questions:
What is the average monthly savings that Home Inspectors are seeing?
If I use ISN, or another software, will I be able to utilize this program?
Yes. The Zero Cost Program can be done within ISN. We customize the payment templates for you and add all of the necessary links onto your ISN invoice. As for the other software’s, the program will have to be done OUTSIDE of said software.
What will deposits look like when my sales are deposited and how can I reconcile?
The deposits will equal the original amount of the inspection MINUS the 3.5% fee. There will be a portal that you can log into that will have batch reports without the 3.5% technology fee included. These reports are able to be downloaded into a CSV file and exported into QuickBooks, or any accounting software that you use.
What if I sign up and the program and decide it is not working for my business?
Great question. We don’t believe that you should be stuck in a contract for a program that isn’t fitting your business model. If you are unhappy, for any reason, you can give us a call and we will switch you to regular processing with great savings.
How long is the process to get set up with ZCP?
To get set up with the ZCP program, you can expect anywhere from 2-4 business days. Now, every case is different. If we are missing information on the applications, or missing required documentation, it will take a few more days.
When will my credit card payments on the ZCP program be deposited to my bank account?
If you qualify Credit Card funding takes 1 business day. You will be able to view batch reports in our portal and know what to expect in your bank account the following day.
Are other home inspectors signing up for the program?
Yes, in fact 95% of our new business with Home Inspectors is for the Zero Cost Program.
Home Inspectors who are using our program are not getting pushback from customers because of the choice to pay via ACH with no fee. Plus, people like to use their reward cards and accumulate points.
Are other Home Inspectors receiving pushback from their customers for having to pay a fee?
When will I get funded for ACH payments?
ACH payments take 3-5 business days to fund. Just like any other check.
How do I know if an ACH/e-check does not clear?
You will be able to view ACH payments in the gateway. There are 3 stages of an ACH payment that you will see in your gateway. The first is “Pending.” This stage indicates that a payment was entered on your ACH link. From here, once the ACH processor receives the transaction data, it is then forwarded to the customers bank. This is called the “Submitted” stage. And finally, once the customers bank receives the data and communicates with the ACH processor, the amount is funded to your bank account. This is called the “Settled” stage.
What other features do you offer for ACH payments?
Our ACH offers the following:
1. ACH Payments in the field via online gateway
2. Three levels of check verification
3. Check guarantee
Jon & Bobbi
Business Owners
Switching to Benchmark has been the best decision we have made as a company! Again, I wanted to thank you Dave for always being there when we needed advice or help.
Jason D.
Business Owner
All I can say is wow! The money we saved from switching is amazing. Definitely a great addition to any organization.
Hank & Mary
Business Owners
We have reduced our processing fees from $1200 - $1600 a month to under $100 and no customers had anything negative to say about it.
Then, you start saving...
Big Time.
How Zero Cost Works with ISN.
1.
Screenshot of the inspection invoice and payment link sent via ISN. This can be customized to however you would like it to read. Notice that the customer is advised of the 3.5% Technology fee and a link to pay by ACH with no fee.
Note: purple lettering discloses the technology fee and ACH payment information.
This screenshot is of the payment page that the customer is directed to when they click “pay online”. The 3.5% Technology fee is automatically populated as shown on this page. In this case, the inspection was for $415.00. The total the customer will pay is $429.53 as can be seen on the top of the page highlighted in blue.
All the customer has to do is fill in the information and click “Process Payment”. Once the payment is completed ISN will be updated that the invoice is paid, and you will receive an e-mail that the invoice has been paid.
2.
This screenshot is of the payment page that the customer is directed to when they click “pay online”. The 3.5% Technology fee is automatically populated as shown on this page. In this case, the inspection was for $415.00. The total the customer will pay is $429.53 as can be seen on the top of the page highlighted in blue.
All the customer has to do is fill in the information and click “Process Payment”. Once the payment is completed ISN will be updated that the invoice is paid, and you will receive an e-mail that the invoice has been paid.
3.
This screenshot shows the ACH payment page. Your company logo will appear on top of the page.
Customer will fill this page out with their information, then submit the payment. Since ISN does not have an ACH integration, this page will not populate the payment amount. The customer will have to put the inspection amount in (which does not include a technology fee) and the invoice #.
Once the payment has been completed you will receive an e-mail that the customer has initiated an ACH payment.
****ACH Payments DO NOT automatically mark as paid within ISN. That will have to be done manually.****
NOTE: Most ACH payments are settled and deposited to your bank account within 3-7 business days. You will be notified of returned or bounced checks in 3-7 business days.
Our ACH processing has a few features to process ACH payments faster and with different levels of payment guarantees.
4.
This screen shot shows your customers CREDIT CARD PAYMENT RECEIPT. This receipt will include the 3.5% technology fee.
NOTE: The deposit in your bank account will be for the amount of the inspection and will not include the technology fee.
5.
This screen shot is a sample of what your payment confirmation will look like.
