Electronic Check Payment Processing | ECS ACH.
Electronic Check Services.
Fast, Safe and Flexible Check Processing.
Many customers continue to prefer checks as the traditional, tried and tested way to pay. Since a basic rule of business is to offer your customer what they want you may feel obliged to accept check payments which you'd rather not have to handle.
At NTC we understand that check acceptance remains a necessity for many businesses. We believe your business should be rewarded for striving to offer the payment option your customers prefer. We don't think your business should be penalized by high fees, labor intensive processing and the risks of a bad check.
But we also understand that check acceptance presents issues and risks above and beyond those associated with card payments. Many business owners are left asking...
How Can I Justify the Need to Accept Checks with the Convenience of Card Processing?
Debit/credit card transactions account for the majority of modern payments. Processing costs are low and the merchant enjoys the benefits of a quick and efficient procedure. The primary reason for this is that the payments are handled electronically. We're proud to offer a way to facilitate check processing with a speed and efficiency that's in line with our card processing services... By treating check payments in a similar way to cards processing becomes flexible, streamlined and cost-effective.
How Does It Work?
Our Electronic Check Service (ECS) provides a simple, intuitive way to process checks electronically. The old-fashioned method of handling paper checks is replaced. It starts with the customer's payment.
- The check is presented as normal by your customer - Next the check is swiped and scanned by an imaging device - From this point onward the payment is treated as an electronic transaction. - The image is automatically submitted to us - We apply the relevant funds to your merchant account... The funds are made available at the same speed as for card payments. (On average 24-48 hours) - The whole process works equally well whether your business processes checksat the point of purchase or handles payments for goods or services sold earlier on account.
Does This Solution Save My Company Money?
Yes! We are big believers in the idea that businesses must offer flexible choices to their customers. But we also know that when it comes to paper check processing delivering that choice can be a costly option. Cost saving is one of the key benefits associated with our ECS service.
Card provider Visa have looked at this issue and estimate the average cost of handling a single check transaction to be $1.22. By switching your customer's paper check to an electronic transaction you can avoid many of the costs and also risks of traditional check processing.
Our ECS makes sense on every level for the savvy business owner keen to cut costs and develop a healthier bottom line.
Does This Solution Save Me Time?
Absolutely!
Time is a priceless commodity for any business owner. Every hour spent handling paper checks is an hour that could be spent generating revenue and profit for your business. Our ECS solution puts an end to time wasting and inefficient paper check processing. If you choose our Conversion with Guarantee option then after you've imaged the check your work is done. It puts an end to activities like manual reconciliations, preparing deposits, needless journeys to your bank and returned items.
ECS delivers a quick, simple solution that literally takes the work of check handling out of your hands.
What Other Benefits are There for My Business?
On top of the significant financial and time savings outlined above our ECS solution delivers multiple benefits for your business...
1) Fast Access to Your Money
Many companies operate to tight margins and having a situation where payments can take several days (or more) to reach your account can create significant problems. By imaging and processing checks at the same speed as card payments we're able to deliver funds to your account fast. The normal timeframe is just 24 - 48 hours.
2) Less Exposure to Risks
For businesses check acceptance has always been a potentially risky option. Our authorization and guarantee services help provide protection for you from the risks associated with bad checks.
The most common problem is caused by simple human error - for example a customer who can't cover the cost of a check payment. Using our ECS solution a check written from an account with insufficient funds will be re-submitted completely automatically. If the account still has insufficient funds a second re-submission will then be made.
2) A simplified relationship with your bank
Funds from check payments can all be deposited into a single DDA account. This ends the necessity for multi-site retailers to establish a banking relationship for every individual store.
3) Access to Useful Payment Data
All electronic transaction data is conveniently collated. You can easily access payment reports and statements via your online account.
How Can I Configure This Solution to Meet My Company's Unique Needs?
Our solutions put you in control! You can select the service level most appropriate for your business' specific needs. The options are laid out below:
1) Conversion with Guarantee
- The check is converted to an electronic transaction.
- A guarantee is provided on the funds meaning the risk of a returned item is assumed by the guarantor.
2) Conversion with Verification
- The check is converted to an electronic transaction.
- The check is verified as being currently 'good' (at the time of conversion).
- No guarantee is provided on the funds meaning the risk of a returned item remains with you.
3) Conversion with Verification and Collections
- The check is converted to an electronic transaction.
- The check is verified as being currently 'good' (at the time of conversion).
- A third-party provider delivers collection services.
- No guarantee is provided on the funds meaning the risk of a returned item remains with you.
How Does this Solution Integrate with My Current Processing Solution?
Like all NTC solutions integration and flexibility is at the heart of what we're offering here. Your forwarded checks are handled in the same way as your customer's card payments. The solution simplifies and ties together all your payment processing needs seamlessly.
That Sounds Great, How Do I Sign-Up?
At NTC we pride ourselves on delivering industry leading sales and customer service support to every client. Our experts are ready and waiting to help you get set-up... Just call us today on 888-996-2273.
- National Transaction Corporation
- April , 2024 | 2024-04-19