Why is Electronic Check Conversion so popular?
Converting paper checks to electronic check is a natural process, using prove technology to make checks faster and easier to process. It is also consistent with the support by the Federal government and industry groups to develop and implement electronic transactions. What are the benefits to me as a Merchant? > Improves Cash Flow and Cash Management > Minimizes Reconciliation Efforts > Eliminates Bank Fees > Eliminates Returned Paper Checks > Funds are available within 48 hours What are the benefits to my Customers? Converting the Customers paper check to an electronic transaction will not affect their float, since the electronic check is processed through the banking cycle in the same amount of time as a traditional paper check. Reconciling bank statements is easier, since more detail information is provided on the statement. Why must the Customer sign the Authorization Slip? Like credit cards, the Customers signature makes the transaction promissory and authorizes Global to process
