[Account Owner] Accepted Payment Methods
You get to choose how you would like to be paid by clients on each invoice. When setting up a payment you can select:
- Credit/Debit Card (Visa, Mastercard, American Express, Discover, JCB Diners Club)
- Digital Wallet (i.e. GooglePay, ApplePay or Microsoft Pay) will be available to clients who have saved payment information on their device when Credit/Debit Card is selected as an accepted payment method.
Requires full card number, expiration date, CVC, country, and zip code (see below):
- ACH (bank checking)
Ability to either use the user name and login to connect a bank account or use the full account and routing number to make a payment.
- Check (if applicable- via Online Check Deposit feature. Payment methods in Firm Settings to turn on checks. Then Account Settings for both the Account owner and each Advisor, or mark as paid)
- Other payment Method (If applicable, this option is for journaling or payments made outside of AdvicePay and is available on the invoice/subscription creation page)
All payments (except checks and Other Payment Methods) are processed by our underlying partner payment gateway, Stripe. We accept U.S. banks and credit cards that have U.S.-based billing information (e.g. State and Zip) associated with them.
When a client is paying their invoice, they will not see the ability to pay by credit card and/or use the Digital Wallet (i.e. GooglePay, Apple Pay) if they selected ACH (and vice versa). Click here to learn more about restricting payment methods at an account level so that clients cannot see other payment method options anywhere on AdvicePay!
Once an invoice has been sent to a client with a specific Payment Method selected, you can change it as long as the invoice is still unpaid/inactive and you don't restrict that payment option on an account-wide level.
To allow a different method, just edit the invoice and change the Payment Method!
Frequently Asked Questions
"Can a client pay with their taxable brokerage account?"
Absolutely! Most brokerage accounts need to have ACH enabled, and the client is able to do that through the company. It's typically a form to fill out, which in return activates ACH and gives your client an account and routing number to make debits.
If your clients do not have the debits enabled on their account then the payment will fail, and a $4 return fee will be charged to your bank account.
📍Read more on our best practices for using AdvicePay to bill AUM fees!
"Can a client pay with a savings account?"
We don't support savings accounts as a method of payment. Sorry about that! If a client enters savings account information, their payment will fail and a $4 return fee will be charged to your bank account.