Within Acadeum Admin, you can manage which payment methods you have on file with Acadeum. Acadeum currently supports two methods of payment:
- Automated Clearing House (ACH), and
- Credit Card
If you have an ACH-enabled bank account, Acadeum requires that you supply that information to reduce costs for transaction fees. You will also be prompted to add a credit card as a backup form of payment.
Who can manage payment methods?
To manage payment methods within Acadeum Admin, a user must be assigned the Financial Admin role. Learn more about User Role management.
First Time ACH Setup
- Login to Acadeum Admin
- Access Settings → Financial
- Choose Start to start the financial onboarding process.
- Complete the required ACH settings, and Save.
If your account number is less than 12 digits, add 0s to the beginning of the number until 12 digits is reached (example: 000123456789)
- Enter Credit Card information (optional, but recommended).
- A few days later, you will need to return to confirm microdeposits.
ACH ID Authorization
Since Acadeum initiates debits automatically by ACH, you must have your bank authorize Stripe for ACH transactions (debits and credits) for the connected bank account. So, when adding a new bank account you will also need to authorize Stripe's ACH IDs.