Why use echecks?
eChecks have important new features. They offer: + the ability to conduct bank transactions, yet are safe enough to use on the Internet + unlimited, but controlled, information carrying capability + reduces fraud losses for all parties + automatic verification of content and validity + traditional checking features such as stop payments and easy reconciliation + enhanced capabilities such as effective dating The eCheck: + can be used by all account holders, large and small, even where other electronic payment solutions are too risky, or not appropriate + is the most secure payment instrument available today + provides rapid and secure settlement of financial obligations + can be used with existing checking accounts + can be initiated from a variety of hardware platforms and software applications What is echeck technology? eCheck technology is software and hardware developed by FSTC members to: + minimize start up expenses + apply universal industry standards + provide ubiquity for part
