Accepting Payment from Abaca

You want to accept your 1st payment from an Abaca client.

What is covered?

1. What is this Payment from Abaca?
2. Accepting a Payment as an organization 
   1. ACH - If the Abaca client has your routing info or not.
   2. Check - If Abaca client sends you a physical check in the mail
3. Accepting a Payment as an individual
   1. ACH - If Abaca client had your routing info or not.
   2. Check -  If Abaca client sends you a physical check in the mail

What is this Payment from Abaca?

Congrats! Someone using Abaca’s platform wants to pay you. You may have just gotten an email about accepting the payment and have questions on how to do that, you are in the right place!

If you would like to learn more about integrating our cannabis-tailored end-to-end financial platform into your business, click here

Accepting a payment as an organization

You can receive payment as an organization from Abaca in two ways — ACH or check.

How to accept an ACH payment

This experience will change based on how much information the payee (Abaca client) has already input about your organization. You will only need to do this on the first payment from the payee; all other payments will be automatic and will require nothing on your end.

1. You will receive an email from no-reply@goabaca.com with the subject line “{Abaca Client Name} wants to pay you electronically.”  
2. Verify that the already provided information is correct.
3. Fill in the rest of the required information.
4. Vendor - The person or organization to whom you intend to transfer funds.
   1. Name - Your name
   2. DBA Name (if asked) - The trade name of your organization
   3. Classification - Assigning a categorization for yourself
   4. Nature of Business (if asked) - The specific work you do
   5. Other Classification (if asked) - Providing another classification for yourself
5. Legal Information - Verify that your Tax ID Number (EIN) is correct.
   1. Not Provided - If you are unsure of your Tax ID number, you can check the box ‘Not Provided’, it will make the field optional.
   2. 
6. Physical Address - Where the main business operations occur.
7. Contact - In case we need to get in touch with you.
8. Banking Information - Linking your bank account so you can get paid. 
   1. Routing Number - The routing number of the bank
   2. Account Number - Your unique account number at the bank
   3. Account Name - A nickname so you can reference this bank account
   4. Account Type - Signifying if the account is a checking or savings
9. Click Submit.
10. You will be prompted with filling in an Electronic Funds Transfer Agreement (EFT). To acknowledge and sign this, please click I agree

How to accept a check payment

When the Abaca customer pays you by check, there is nothing you have to do. You should receive a check to your address between 7-10 days from the payment being submitted. 

Accepting a payment as an individual

You can receive payment as an individual from Abaca in two ways — ACH or check.

How to accept an ACH payment

You will only need to do this on the first payment from the payee. All other payments will be automatic and will require nothing on your end.

1. You will receive an email from no-reply@goabaca.com with the subject line “{Abaca Client Name} wants to pay you electronically.”  
2. Verify that the already provided information is correct.
3. Fill in the rest of the required information.
4. Vendor - The person or organization to whom you intend to transfer funds. 
   1. Name - Your name
   2. DBA Name (if asked) - The trade name of your organization
   3. Classification - Assigning a categorization for yourself
   4. Nature of Business (if asked) - The specific work you do
   5. Other Classification (if asked) - Providing another classification for yourself
5. Legal Information - Verify that your Social Security Number (SSN) is correct.
   1. Not Provided - You can choose to not provide your SSN. If you check the box ‘Not Provided’, it will make the field optional.

1. 1. 
      
      
2. Physical Address - Where the main business operations occur.
3. Contact - In case we need to get in touch with you.
4. Banking Information - Linking your bank account so you can get paid. 
   1. Routing Number - The routing number of the bank
   2. Account Number - Your unique account number at the bank
   3. Account Name - A nickname so you can reference this bank account
   4. Account Type - Signifying if the account is a checking or savings
5. Click Submit.
6. You will be prompted with filling in an Electronic Funds Transfer Agreement (EFT). To acknowledge and sign this, please click I agree.

How to accept a check payment

When the Abaca customer pays you by check, there is nothing you have to do. You should receive a check to your address between 7-10 days from the payment being submitted.