Automated Clearing House (ACH) payments have become increasingly popular among businesses and consumers alike, thanks to their convenience, speed, and security. However, one key feature that sets Link Money Pay by Bank apart from other ACH payment providers is Link Money “Cover."

“Cover” is our trade name describing the Link Money warranty that qualifying transactions initiated using the Link Money platform will not be returned due to insufficient funds or with any of the other qualifying codes. In this blog post, we will discuss the benefits and significance of the coverage but first let’s discuss how Link Money is able to provide the Cover.

Link Money covers funds for certain return codes due to our effective intelligence model. An ACH return code is a message indicating that a transaction has been returned to the originating financial institution, often due to insufficient funds or incorrect account information. A high return rate can be detrimental to businesses, causing lost revenue and resources.

To address this risk, we utilize a sophisticated intelligence model to analyze transaction data and assess the risk of return codes. Our model uses open banking to predict the risk level of a transaction and decide whether to accept or decline it. We're able to cover transactions for these return codes due to our trust in the accuracy of our intelligence model.

By offering this Cover, Link Money provides peace of mind for businesses that rely on ACH processing for their financial transactions. Our intelligence model helps to reduce risk and improve the reliability and efficiency of financial transactions. Below we discuss significant merchant benefits from the Cover. 

Minimized Risk of Financial Loss:

The Link Money Cover reduces the risk of financial loss for merchants. For covered return codes, the payment provider ensures the merchant still receives the funds, protecting their financial interests and preventing any potential disruption to their cash flow.

Improved Cash Flow Predictability:

With the Link Money Cover, merchants can better predict their cash flow. Knowing they will receive the payment, and not have to deal with disputes, lets merchants more accurately forecast incoming funds and effectively plan their financial activities. Merchants can rest assured that they will receive their funds even if specific return codes are issued, reducing the need for time-consuming dispute resolution processes and helping them maintain a positive reputation.

Strengthened Trust between Merchants and Link Money:

A guaranteed ACH payment fosters trust between merchants and Link Money. By ensuring that funds are transferred securely and reliably without having to worry about there being enough money in the customer’s bank account, Link Money demonstrates its commitment to supporting the merchant's financial stability, leading to a stronger and more reliable business relationship.

The Cover provided by Link Money in ACH transactions against specific return codes is a significant differentiator that offers numerous benefits for merchants. By ensuring the transfer of funds even when certain return codes are received, Link Money helps merchants maintain financial stability, improve cash flow predictability, and foster trust in their services. By embracing guaranteed ACH payments, merchants can optimize their payment processes and position themselves for long-term success and growth. All for 70% lower payment processing fees. If you’re interested in learning more about our Cover, click contact us below. 

Link Money generally covers the following ACH Return Codes:

R01 - Insufficient Funds

R02 - Bank Account Closed

R03 - No Account / Unable to Locate Account

R09 - Uncollected Funds

R13 - Invalid ACH Routing Number

R20 - Non-Transaction Account