Electronic check acceptance (ECA) makes it easy to accept checks from customers. One of the special features of this service is the checks you accept can be from customers anywhere in North America, as well as Australia.
The way this TeleCheck service works is when a customer gives you a check, you run it through a terminal. This terminal takes pictures of the front and back of the check and translates the images into a digital format. Another cool feature is the terminal then prints out a receipt that you can give to the customer to sign. Since customers are used to signing the same type of receipt for credit and debit card transactions, this feature allows you to provide them with a familiar experience.
The last leg of the customer and merchant experience comes when you’re able to hand the original check back to your customer. If you’re wondering how that’s possible, it’s because after the terminal captures all the necessary information, it automatically voids the check. What’s great about this aspect of the process is it eliminates the need for you to deal with paper checks piling up on your desk.
Because of the secure manner in which the check information is captured and stored, the funds from that check will be fully guaranteed. This process also makes it possible for the funds to be deposited into your account in just two business days.
Is this Service Right for Your Business?
If you have customers who have wanted to pay with a check but you’ve had to say no to them because of the risks associated with the traditional method of accepting checks, this is the perfect service for you and your business.
Since this service is focused on making it easy for you to securely get paid, as well as providing your customers with a pleasant experience, checking their ID generally isn’t required. And even in the event that you do need to ask for their driver’s license, all you’ll need to do is swipe it through the terminal.
While TeleCheck isn’t the only company that offers this type of service, the reason they stand out is because they’re truly dedicated to making sure merchants like you get paid. In the event that a check is stolen, forged, fraudulent, attached to an account that doesn’t have sufficient funds or is actually closed, you will still get paid without getting stuck in an endless cycle of claims and forms. In fact, if this ever occurs, you won’t even know about it. Instead, TeleCheck will put the funds in your account, and they will take care of tracking down what’s then owed to them.
To top things off, because of the highly sophisticated approval system TeleCheck uses, they make it possible for you to accept checks of any amount. So even if you sell high-priced items like cars that result in single transactions for tens of thousands of dollars, using this TeleCheck service means you can accept checks without taking on any risk.
If you want to accept checks without:
- Making trips to the banks
- Paying a fee for every deposit you make
- Being charged for returned checks,
get in touch with us today so we can discuss which terminal is right for you and help you get started with electronic check acceptance!