How often in your business do you encounter bad checks from customers? And if you do not accept checks, how often do you get asked to accept checks? Check conversion and guarantee is the perfect solution. By combining the power of technology with integrated systems, your business can safely and effectively accept checks that are verified, guaranteed, and deposited, for the same cost of a typical credit card transaction, thus making you, and your customers happy. To find out more, call us toll free: 800-261-3173.

Check conversion is among the fastest growing types of electronic payment applications due to its enormous benefits. When educating your customers on check conversion, be sure to emphasize the following points:

Check conversion is simple.

• As with any new system, check conversion requires some systemic changes; however, these changes are simple for business customers to set up. Once the new system is established, a company immediately begins saving money.
• Individuals will not need to do anything new or different when their checks are to be converted, as electronic payment processing has advanced to the point that the processing is seamless and largely transparent to the individual. They may notice that the amount of the payment appears in a different location on their monthly statement.

Check conversion is safe.

• Check conversion relies on the same secure network used for Direct Deposit and Direct Payment, the Automated Clearing House.
• The Federal Reserve's Regulation E and the NACHA Operating Rules regulate electronic payments processed through the ACH Network. Because of Reg E and NACHA Operating Rules, consumers have greater protection with check conversion.
• Businesses are required to provide notice to customers prior to the receipt of each check to be converted to an electronic payment for ACH processing.

Check conversion is smart.

• Check conversion reduces time and resources needed by businesses to process payments, resulting in continued cost savings to companies and the U.S. economy.
• Electronic processing reduces the burden on our nation's transportation systems and the environment. It takes a considerable amount of fuel to ship our country's millions of checks each year between companies, financial institutions, and individuals.

How does it work?

1. Customer writes a check to purchase items.

2. Check is run through check reader terminal. Codes at bottom of check are verified electronically.

3. Codes are sent to Service Provider computer systems and checked against a database of check writers just like regular checks.

4. Check approval is sent back to terminal printer.

5. Customer is given authorization slip to sign.

6. Signature, Printed Name and Telephone number is required to allow Service Provider to collect funds from customer’s bank account.

7. Customer is given a copy of signed authorization slip, and their check is given back, now stamped “ACH PROCESSED”.

8. Transaction information is stored inside of the check reader terminal. At the end of the business day, this information is sent to Service Provider computer systems.

9. Service Provider informs customer’s and merchant’s banks of the transaction. Funds are electronically transferred ususally within 48-72 hours.

10. Transaction appears on customer’s bank statement.

11. With the gold program, if the transaction doesn’t clear, Service Provider collects the amount. Merchant doesn’t have to hassle with returned checks or fees.

Call for more information: 800-261-3173