Payment Methods Policy

Why payment methods matter

Every barrier between a willing customer and paying you is a delay you can remove. A payment methods policy sets out the options you accept, presents them clearly on every invoice, and makes paying as frictionless as possible — which is one of the simplest, most reliable ways to get paid sooner. It also keeps your team consistent on questions like surcharges and accepted methods. This template suits commercial accounts; adapt the methods and any fees to your business and review them before you rely on it.

The payment methods policy

1. Accepted methods

We accept [bank transfer / EFT, card, BPAY, direct debit, and other relevant methods].

2. On the invoice

Every invoice shows the accepted methods, the bank details, and a clear payment reference.

3. Surcharges

Any card or processing surcharge is disclosed clearly before payment; surcharges are fair and not excessive.

4. Instalments

Where an arrangement is agreed, the method and schedule are confirmed in writing.

5. Allocation

Payments are matched to the correct invoice using the reference; unallocated amounts are chased promptly.

6. Confirmation

Cleared payments are acknowledged so the customer knows the account is settled.

7. Review

Accepted methods and fees are reviewed as customer preferences and costs change.

How to use it

Offer the methods your customers actually want to use, then put them — with bank details and a clear reference — on every invoice, because a payment link or visible account details remove the most common reason an invoice sits unpaid. Be upfront about any surcharge and keep it fair, since a surprise fee at payment time creates disputes that cost more than the fee earns. Make allocation easy by insisting on a reference, and chase unallocated amounts promptly so paid accounts are not mistakenly chased. Keep deposits and refunds consistent with your refund policy template, and check any surcharge or instalment maths with the free calculators.

Keep it current

Payment preferences and processing costs shift over time, so a methods policy is not a set-and-forget document. Review the options you offer as customers move toward newer methods, and revisit any surcharge as your processing costs change. The test is always the same: does this make it easier and clearer for a willing customer to pay you today? Anything that adds friction without good reason is quietly costing you cash flow.