Can buyers pay by bill pay or vendor payment?

No, buyers cannot pay through their bank’s “Bill Pay” or “Vendor Payment” features, or any other form of ACH. There are multiple reasons:

• Chargebacks. For months after an ACH payment is made, the buyer can file a chargeback. This causes the funds to be seized from the merchant’s account, even if the funds have already been disbursed.
• Payment limits. “Bill Pay” and “Vendor Pay” features often do not have high enough limits to pay for more than a small fraction of a business acquisition.
• Slowness. ACH payments take 1-2 business days to clear, which is sometimes slow enough to cause complications with closing.

All buyers must pay by wire transfer.