What is an electronic check?
An electronic check&ndsh;also known as an echeck, electronic check conversion, or Back Office Conversion (BOC)–is an electronic version of a paper check. Electronic checks allow merchants to convert paper check payments made by customers to electronic payments that are processed through the Automated Clearing House (ACH) Network. Simply put, it’s a fast, efficient, and secure way to process check payments. Because of the many benefits and increased security methods that electronic checks offer, this method of payment is quickly growing in popularity. In 2007, electronic check conversion increased by 30%, with more than 3.1 billion paper checks converted to echecks through in-store transactions. Familiarizing yourself with how electronic checks work, the benefits and security features they offer, and how you can get started with electronic check conversion will save you time and money and help you provide greater protection for your business and your customers. • How electronic checks w
When you write a check to a merchant, who is taking advantage of Electronic Check Acceptance Service, your check will be processed through the safe and secure system that PrimeSource uses today for electronic deposits and payments. The merchant will hand the check presented to them back to you. You’ll have the same amount of time before your check is presented to your account at PrimeSource. And your statement will provide even more information to you, reflecting the date the check cleared your account, the check number, the amount, and the place where the check was presented.
Its the same as writing a check, only the check does not exchange hands. But you still give out your account number, routing number, name, etc. And it goes through immediately just like a debit. If possible, i suggest avoiding electronic checks or checks in general. Use your Visa or Mastercard Check card through your bank. Easier and safer. You never give out your account number. And your check card number can always be changed by getting another card if it is lost or stolen.
A. An electronic check is an important purchase instrument you can offer to your customers for use in purchasing goods and services from you on the Internet. It works just like a paper check, except is processed electronically and clears faster than a paper check clears. A customer can use funds from a savings or checking account when paying by electronic check.
What makes Signature different? You’ve decided to accept credit cards for your business, did a little research, and are now perhaps a little confused by all the “we are the best, we are the cheapest” claims. At Signature we want to make this choice simple for you. Compare us to the others and you’ll discover that we’re driven to providing you with an exceptional service at a fair price. Our knowledge of helping businesses such as MO/TO, Retail, Internet, Home-based, Start-ups and Ecash obtain merchant accounts is unparalleled, which means a stress-free experience for you. We’ll give you proven strategies and business specific expertise to help you become a profitable merchant. What sets Signature apart from everyone else is our experience, dedicated customer service and online reporting. Imagine being able to view your accounts’ activity online, everyday. Our reporting allows you to reconcile your account, look-up an individual’s credit card history with you, reduce time spent on charg
