OWED

We get this question a lot. The honest answer is: Owed is built for bank-to-bank payments, not card payments. Here's why that's actually better for you and easier for your clients than it sounds. Your clients already pay from their bank account constantly — every time they use Zelle, Venmo, or pay a bill online. Owed works the same way, just built for invoices. When your client gets your invoice, they click Pay, connect their bank (a 30-second process most people recognize), and approve. Done. For clients who genuinely won't pay any other way, we recommend this: let them know that your new payment system saves you money and that savings lets you keep your rates where they are. Most clients, when they understand it helps you, are happy to try it. And once they try it, they prefer it — no card number to type, no expiration date to find, just approve and it's done.

Here's exactly what your client sees: 1. They receive your invoice by email with a Pay Now button. 2. They click it and land on a clean payment page. 3. They click 'Pay with your bank' and a secure bank selector appears — the same kind they've seen on apps like Robinhood, Coinbase, and thousands of others. 4. They pick their bank, log in securely (Owed never sees their login — it goes directly to their bank). 5. They select their checking account and approve the payment. 6. You get paid. Settlement is typically 4 to 5 business days. No card number. No CVV. No expiration date. The whole thing takes your client about 90 seconds the first time and 30 seconds after that.

Settlement today is typically 4 to 5 business days, because the payment networks hold funds briefly to protect against returns. There is no percentage taken. Your payment processor may place a hold or reserve on funds in some cases, such as elevated returns or a risk review. We will tell you if it happens. We're working toward next-day, then same-day settlement, and eligible accounts will be upgraded as each launches.

Because the percentage model was never fair to service businesses. Here's what's actually happening when you use a card-based processor: every time a client pays with a card, Visa or Mastercard charges a percentage of the transaction. The processor passes that cost to you. On a $2,000 invoice that's $58. On a $5,000 invoice that's $145. The more successful you are, the more you pay. Owed bypasses Visa and Mastercard entirely. We route payments directly between bank accounts through infrastructure that charges a flat fee per transaction regardless of amount. So we charge you $1. That's it. Whether the invoice is $100 or $10,000 — $1. At $8,000 a month in invoices, that's roughly $2,700 a year back in your pocket.

This is the right question to ask and the answer should give you and your clients real confidence. The bank connection process uses the same technology that powers apps your clients already trust — Venmo, Cash App, Robinhood, and thousands of others use identical infrastructure. When your client connects their bank, they log in directly on their bank's own secure server. Owed never sees their username, password, or login credentials at any point. Payments are processed by our regulated payment processor and paid out to your bank account. Owed does not hold customer funds in its own bank accounts. We are the instruction, not the vault. All data is encrypted in transit.

Every major US bank is supported: Chase, Bank of America, Wells Fargo, Citi, and thousands of community banks and credit unions. Payments move by ACH bank transfer, which works with virtually every US bank account. Settlement is typically 4 to 5 business days. No percentage fee. Just $1. We're working toward next-day, then same-day settlement, and eligible accounts will be upgraded as each launches.

Bank payments do not have card chargebacks or chargeback fees, but they can be returned. A payer's bank can return a payment for reasons like insufficient funds or a claim that it was not authorized, and consumer accounts can dispute an unauthorized debit for up to 60 days. If a payment is returned, the invoice goes back to unpaid, the funds come back out of your account, and Owed notifies you. Owed never advances money, so a return never leaves you owing Owed. Refunds are issued by you, directly.

Most service business owners tell us this was easier than they expected. Here's what works: Frame it as a benefit to them: 'I switched to a new payment system that's simpler and more secure. You'll get your invoice by email and can pay directly from your bank in about 90 seconds. Most of my clients prefer it once they try it.' Lead with the simplicity: clients actually like getting things done in one click. When they realize they don't have to find their card, type 16 digits, and wait for a receipt email — they appreciate it. For longtime clients who push back: you can note that the old system's fees were something you were absorbing, and this change helps you keep your pricing stable. That's honest and most clients respond to it well. The reality is that pay-by-bank is already normal. Your clients just might not have used it for invoices yet. Owed makes it the obvious choice.