Check Processing Questions

1 Can I accept checks over the Internet? 
2 What is check verification? 
3 What is check guarantee? 
4What is electronic check conversion? 
5 What is check collection or check recovery? 
6 What is a check image? 
7 What is check re-presentment? 
8 Is it better to accept credit cards or checks online? 
9 Why should I accept checks? Aren’t credit cards and cash enough? 

Can I accept checks over the
Internet?

Yes, we provide merchants with the ability to accept checks
over the Internet. Your customers enter their check account
information into one of the payment forms used by our merchants and
the check is then processed through the Automated Clearing House
(ACH).  
What is Check Verification?

Check verification is a low-cost service that verifies checks you
might accept from a customer. It allows the merchant to know if the
customer has any bad checks that have been written. The check is run
through a POS Terminal or Check Reader and then its verified. This
system of checking is usually done within seconds and poses no wait
time for the Merchant at all. Real time verification is important to
both the retailer and customer and verification allows quicker and
safe transactions.

Benefits of Real Time
Authorization:

• Very
  quick and easy when used with a check reader
• No
  discount fee charged to Merchant  
• Bad
  check are automatically forwarded to collection agency (no
  Merchant involvement)
• Merchant
  is reimbursed 100% of check upon successful collection; no
  additional fees!

What is Check Guarantee?

Check guarantee is like an insurance policy for checks you accept at
your retail location. All checks that are received are checked against
a negative database and reduces your risk of accepting fraudulent
checks.

Does your company accept a large
number of checks? Your ability to protect, deposit, verify and
guarantee the check received by a customer has just become easier. 

Check Guarantee has state of the art
check Authorization, Guarantee, and Internet Check acceptance that is
suited for your company. Although credits card usage is becoming the
preferred method of payment, Checks at the current time, still lead
the pack. Programs created below are fully compatible with POS
terminals and software and can be integrated into your merchant
agreement. This is the most
widely used guarantee system available to all merchants. This system
is automatically guaranteed through an automated system when the check
is scanned. 

Our check guarantee service is a low cost way to accept checks
and costs are minimal when compared to credit card processing.

What is electronic check conversion?

Electronic Check Conversion, or "ECC" greatly reduces the cost, time,
and risks associated with check acceptance at the point-of-sale (POS).  

No one uses a manual imprinter
to accept credit cards any longer.   Instead, merchants
handle credit card transactions through EFT (Electronic Funds
Transfers) using VeriFone or similar terminals.  Paper checks
have remained non-automated…until
now!

Electronic Check Conversion is
the most efficient way of saving you money and heartache due to non
sufficient funds. Using a check has become a simplistic as using paper
money or a credit card. It also is more cost efficient for the
Merchant as well.

- Quicker Processing of Checks
– Both funds can be converted into your bank account as well as the
location of purchase.
– Checks are automatically deposited into your account and check
balancing is much easier.
– Quicker response time to Non sufficient funds and can be recovered
quicker.
– Minimizes fraud from check writer
– Stops lost or stolen checks
– Verifies checks at no cost to you
– Reports through all POS systems and Check Readers

What is check collection or check
recovery?

Check collection which can be called Check Recovery is a service that
collects on unpaid services.
When your bank receives the returned check, our collectors make
telephone calls and/or send letters to collect from the consumer. 
We are contracted with all 50 states, and our sales team is educated
and well trained in helping you obtain the knowledge needed.

How
effective is Check Recovery?  

Check
Recovery 
collects NSF check funds 80% of the time. 
Check Recovery has a success rate 
based on the fact that they monitor the customer’s accounts for
available funds on days when customer’s are most likely to have funds
in their accounts (13 times a month!). 

When
it sees the available funds, it submits the electronic transaction
along with the NSF fee. Your payment is always the priority amount,
over the NSF fee. If there are only funds enough to cover your check,
the system will debit that amount first and try for their NSF fee
later. Also, since the check has been transformed into an electronic
item, it takes precedence over paper checks. The system even provides
you a status report, so you can track the collection of the NSF
checks. If the check remains uncollected after 30 days, you have the
option of using an alternative collection service.

What is a Check Image?

A check produces a digital image that becomes available online. The are two
simultaneous steps that happens at the same time as the transaction is being processed and at the same time the image is being captured on the check imager. Then the image is stored in a image repository
which can be viewed by the merchant by logging in to the system. 

– Its also used for marketing purposes as well.

These are a few things that check imaging can do for your business:

-It reduces processing costs
-It speeds up your clearing cycles
-It gives you an edge in customer service

What is check re-presentment?

You are paid 100% of the face amount of the check upon collection.
Funds are electronically credited to your account twice a month.

QUICK FACTS  

• You’re
  not bothered with collection issues – focus on your core
  business instead.
• Your
  bank mails us all your returned checks. We re-present them up to
  two times electronically through the Automated Clearing House
  (ACH).
• The
  second re-presentment is on the 1^st or 16^th
  of the month to increase success rates.
• You
  are paid 100% of the face amount of the check upon collection.
  Funds are electronically credited to your account twice a month.
   

HIGHLIGHTS  

• No
  charge to you!
• Automatic
  reimbursement.
• Payday
  re-presentment improves chance of collection.  
• Your
  bank forwards your returned items directly to our processing
  center.

Customer
service – 24 hours a day, 7 days a week including holidays.
Is it better to accept credit cards
or checks online?

Accepting credit cards and checks on-line both have advantages.

Credit cards are generally the most
widely used payment choice for on-line transactions. Therefore,
accepting them means you open up your business to the widest possible
market of buyers. Consumers like credit cards because they are secure,
offering an easy means of protecting themselves from unscrupulous
merchants. Plus, they have the obvious advantages of allowing
merchants to put a purchase on credit while lending increased
credibility to your business.

On the other hand Credit Cards are
secure and easy to use but pose high interest rates and fees if paid
late. If its a Debit Card/Credit Card then you have the advantages of
debit use which is automatically deducted from your bank account.

On the other hand, checks continue to be the most popular form of
payment in the off-line world, and are increasingly popular on the
Internet. In 2001, $11.5 billion was processed from Web sites through
the Automated Clearing House, 54 million items, and the number is
growing fast. Millions of U.S. households do not have credit card
accounts, so selling to this group means providing checks as an
alternative.

Why should I accept checks? Aren’t
credit cards and cash enough?

Since the early 1970’s there has been a light buzz of checks being an
obsolete item in the near future. we all know that the truth of this
is far from being true. There is a reported estimate of around 45-55
billion checks written yearly and that the same number of people
writing checks will be writing them next year. The online bill pays of
today have decreased the number of checks being written and as time
goes on the access to this function will grow as checks diminish
slowly.

Habit is a hard thing to lose and
older generations you haven’t jumped to the mainstream of credit cards
and computers will always market the use of checks. 

The use of checks today have an
important role in society and how we do business and with the
technology of check verification and guarantee the check will remain
in our everyday lifestyle for years to come.

We can offer you a solution to
your transact needs. If you are looking to accept credit cards,
checks, debit, online solutions we can get you started as soon as
possible. 
LEARN MORE!

If you are currently processing ask us how we can help you switch (fast and easy)

Allow us to understand and fulfill your payment processing needs and combine them into one comprehensive solution uniquely designed for you the merchant, your business, and your budget. Customized quotes are just a phone call away or fill out our online form and a customer service representative will call you.

ALL major credit & bank cards accepted along with checks
Single-source merchant services
Choice of equipment terminals (ask us what better suits your needs)
Online reporting / transaction management/ monthly statements
In-house RISK / UNDERWRITING departments
No High Prices
FREE American Express setup
FREE cost analysis & processing quotes
Discount POS Terminals and Equipment
Low Rates and Processing Fees
Quick Installation
Easy and Fast Approvals
Developer Support for Programmers
Real Time Internet Payment Processing
Experienced Company That You Can Trust
FREE 365 / 24 / 7 customer support

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