E-Checks – Expanding Your Payment Options
When your customer presents you with a paper check, you can speed processing and improve security by converting it into an electronic payment. Also called an electronic check conversion, a Back Office Conversion (BOC), direct debit, ACH payment, or ACH transfer, an e-check is processed through the Federal Reserve Banks ACH Network, using the numbers on the account and routing numbers on the paper check.
To get the conversion process going, all you have to do is scan the check or input the numbers into your computer or terminal.
- Using e-checks provides customers with a convenient alternative to paying with cash or using a debit or credit card. This additional method of payment translates to additional sales for your business.
- Transferring paper check payments into electronic format saves you from transporting paper checks to the bank. Without reliance on paper checks, payments cannot be misplaced, stolen, or lost in the mail as fewer people handle them.
- Once the customer’s bank verifies the account information, the money passes through the ACH system directly into your account. Accepting out of town checks is no problem as the system can check virtually any bank for verification.
- If the check does not clear, you receive quick notification. TransNet, as your merchant services company, maintains files of customers who have previously passed bad checks.
Accept E-Checks Through TransNet Payment System
TransNet makes accepting e-checks easy for you, whether your customer is an individual or business paying in person or online.
- Low fees. With flat fees per transaction, e-checks can save you up to 60% of processing costs versus paper checks.
- Reliable encryption. Account numbers are scrambled when they are transmitted through the ACH system, which reduces data piracy and fraud.
- Protection against duplicates. TransNet provides software that detects and prevents duplicate transactions.
- Accountability. You will be able to check your e- check transactions online along with other debits and credits in your merchant services account.
- Green processing. Electronic check conversion and processing saves paper and reduces fuel and greenhouse gas emissions expended transporting paper checks between locations.
Expand your payment options by accepting e-checks through TransNet. Call or contact us today to learn more about how TransNet can help your business with additional payment processing solutions.
Let’s Get Started
Transnet Enterprises customizes payment processing products and services to meet the specific requirements of
your business from start-up to success, regardless of industry or size. We want to help you reach your business
goals. Please let us know how we can help you by email us below or calling us at (844) 329-1136 for sales inquiries.