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Q. Should I accept checks? Aren’t credit cards and cash enough?

A. There are an estimated 45 to 55 billion checks written annually, and that number is not decreasing. Chances are, a healthy percentage of your customers would prefer to pay by check than by cash or credit card.

Q. Can I accept checks over the Internet?

A. Yes, we provide merchants with the ability to accept checks over the Internet. Your customers enter their checking account information into one of the payment forms used by our merchants and the check is then processed through the Automated Clearing House (ACH).

Q. What is Check Verification?

Check verification is a low-cost service that verifies checks you might accept from a customer. It allows the merchant to know if the customer has any bad checks that have been written. The check is scanned through a POS Terminal or Check Reader and is verified. This system of checking is usually done within seconds and poses no wait time for the merchant or customer. Real time verification is important for both the retailer and customer and verification allows quicker and safe transactions. Benefits include:

• Very fast and easy when used with a check reader
• No discount fee charged to Merchant
• Bad checks are automatically forwarded to collection agency (no Merchant involvement)
• Merchant is reimbursed 100% of check upon successful collection; no additional fees!

Q. What is Check Guarantee?

A. Check guarantee is similar to an insurance policy for checks you accept at a retail location. All checks that are received are checked against a negative database that instantly reduces your risk of accepting fraudulent checks. Similar to Check Verification, the Check Guarantee program ensures that you will receive funds for all checks scanned through the system, regardless of their viability.

Q. What is Electronic Check Conversion?

A. Electronic Check Conversion, or "ECC" greatly reduces the cost, time, and risks associated with check acceptance at the point-of-sale (POS). ECC offers the following benefits:

• Faster Processing of Checks
• Checks are automatically deposited into your account and check balancing is much easier.
• Quicker response time to Non sufficient funds
• Minimizes fraud from check writers
• Stops lost or stolen checks
• Verifies checks at no cost to you
• Reports through all POS systems and Check Readers

Q. What is Check Collection or Check Recovery?

Check Collection, which is also known as Check Recovery, is a service that collects on unpaid checks. When your bank receives a returned check, we make telephone calls and/or send letters to collect from the consumer.

Q. How effective is Check Recovery?

A. Check Recovery collects NSF check funds 80% of the time.

Q. Which bank accounts can be used to make electronic check payments?

A. Single-entry debit payments can be made from a personal or business checking or savings account. Checks drawn on credit card accounts and money market accounts cannot be used for electronic check payments.

Q. Will the customer's checking account be secure?

A. All financial institutions regard the customer's information as highly confidential and not to be disclosed. During the ACH check conversion process, only a customer and merchant sees the account information.

Q. What is the difference between check verification and check guarantee?

A. Check verification compares the MICR information on a check with a national database that assesses the check writer's status and credit worthiness. Check guarantee is a check service that actually guarantees the face value of checks and protects the merchant against non-sufficient funds (NSF).

Q. What are the benefits of electronic check payment?

A. ACH check conversion can result in fewer returns, faster fraud recognition, additional privacy, and reduced processing expense. Electronic payment processing is a virtually seamless method of payment and customers benefit from the reduced time between writing and handling of their checks.

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