Direct bank transfer is a method of payment for online transactions that allows customers to transfer money directly from their bank account to the merchant’s account. This type of payment is often used for larger purchases, such as those made on e-commerce websites.
Customers can make a direct bank transfer using their online banking system or by visiting their local branch.
In WooCommerce, direct bank transfer is a built-in payment gateway. To use it, you first need to enable the gateway in your WooCommerce settings.
Once enabled, you’ll need to enter your bank account details so that customers can make a transfer. You can also add a message to be displayed on your checkout page, which will provide instructions on how to make a direct bank transfer.
Once a customer has made a direct bank transfer, you will need to manually confirm the order in your WooCommerce order management system. This can be done by going to the orders page and selecting the ‘confirm’ button next to the relevant order. Once an order has been confirmed, the status will be updated and the customer will be notified that their purchase is complete.
What is Direct Bank Transfer in WooCommerce
Direct bank transfer is a method of payment for online transactions that allows customers to transfer money directly from their bank account to the merchant’s account. Customers can make a direct bank transfer using their online banking system or by visiting their local branch.
How Does Direct Bank Transfer Work
In short, Direct Bank Transfer in WooCommerce enables customers to pay for their online purchases directly from their bank account into yours. To do this, they simply need your account number and sort code (or IBAN/SWIFT if you’re based internationally).
The advantages of this method are that it’s widely available (most people have a bank account), secure (money isn’t released until you confirm the transaction), and low-cost (there are no transaction fees). The downside is that it’s slightly slower than other methods (as you have to manually confirm each order) and there’s always the risk of human error (e.g., if someone enters your sort code incorrectly).
