pay supplier using ACH via Payoneer/US Payment Service?

JB001

Hi there,

 

Is it possible to give my US Payment Service details (routing number, account number, account type etc.) to my supplier so that he can use his ACH (Automated Clearing House) service to direct withdraw payment for product purchases?

 

I'm located in another country but my business and supplier are US based, and my main account is with Payoneer, I think this may be the quickest, most cost effective solution for transactions.

 

Will this work?

 

Thanks

Romi

Hi,

Please note that you cannot receive payments from individuals with the US Payment Service, only from companies who pay with ACH.

JB001

Romi wrote on May 29 2014, 3:34 PM: »

Hi,

Please note that you cannot receive payments from individuals with the US Payment Service, only from companies who pay with ACH.

 

Hi Romi, 

Thanks for the reply, but I don't think I explained myself properly.

Below is what I'm hoping would work. 

Can you confirm? 

 

 

- Me (the Customer) 

Holds Payoneer account - with master card and US bank account

 

- I am located internationally and want to purchase stock from a us supplier on a regular basis.

 

- Credit card fees are very high for recurring stock purchases.

Payment to supplier using ACH is a cheaper option and just as reliable.

 

- I complete the suppliers ACH form using my Payoneer Account details (routing number, account number, account type etc.) giving supplier approval to automatically debit funds from my Payoneer bank account for stock purchases.

 

 

Would this work?

Thanks

Romi

Hi,

 

This would not work - you can only use your US Payment Service details to receive payments, not to send payments or funds to anyone.

JB001

Romi wrote on June 2 2014, 10:14 AM: »

Hi,

 

This would not work - you can only use your US Payment Service details to receive payments, not to send payments or funds to anyone.

Ok, thanks for the clarification