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Few if any banks are going to be "good" and none will really have an "API." Set your sights low. The best you're likely to get is the ability to upload a batch file, or if you're really lucky, a NACHA formatted file. Expect to post collateral with your bank, tying up anything from several thousand to several hundred thousand dollars (depending on your volumes).

There are reasons why ACH is problematic; it's not [solely] because banks suck. There are anti-money laundering (AML) as well as anti-abuse protections that must be taken.

We at Lighter Capital did find some reasonably forward-thinking institutions in our search and I'm happy to share what we learned offline -- rlucas@lightercapital.com.

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