Many HOAs prefer ACH payments to debit and credit cards. Most payment processors provide the option of ACH as an online payment method to their customers for monthly and subscription-based transactions such as HOA dues. The ACH method of payment uses debit transfers or electronic credits that enable HOA members to pay for HOA dues from their bank accounts. Payment Method 3: ACHĪCH is an acronym for Automated Clearing House. Instead of cash, cardholders can pay their assessments to HOAs that accept debit cards. In accepting debit cards as an online payment method, HOAs work with debit card processing providers. Payment Method 2: Debit Cardĭebit cards or check cards are a convenient payment method for HOA members looking for a simple way to pay for HOA dues. Cardholders can pay for HOA dues to HOAs that accept credit cards based on the holder’s commitment to pay in the future. To accept credit cards as an online payment method, HOAs use the services of credit card processing providers that make the system work. Payment Method 1: Credit CardĬredit cards are payment cards consumers can use as a method of payment. A number of providers also process innovative online methods of payment such as prepaid cards, wallets and e-checks. This reduces HOA stakeholders’ dependence on financial institutions. Service providers connect to acquiring banks, credit cards, and payment networks in order to enable HOAs to accept assessments online via different payment methods. Payment service providers are delivering a new level of convenience to HOA communities by allowing them to accept HOA dues via a range of payment methods including credit card, direct debit, and ACH.
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