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Merchant Account and Credit Card Processing
Check Processing Services
Check Services
At Merchant Solutions, we offer a number of options under the umbrella of check services. Check services encompasses a broad spectrum of check present and check not present ACH services that allow you to either convert paper checks into electronic transactions.
We offer a variety of check services via Check 21 Direct, GETI and TeleCheck to support any manner of check service or capability requirements.
Check services provide a number of benefits for merchants such as:
- Reduce risk – With check conversion or verification service, you can avoid the potential for taking a bad check for a product or service already rendered.
- Improved customer service – with check guarantee services, there’s no need to wait for checks to clear before your client’s product can ship or service can being.
- Eliminate returned checks and NSF fees – Returned checks and NSF fees are the biggest potential pitfall in check acceptance. Instead of getting money for a product or service, you’ve given it away for free and lost money on the fees.
- Faster Funding – deposits can be made real time, accelerating your cash flow
- Reduced trips to the bank – particularly useful for merchants who only occasionally take checks. Avoid trips back and forth to the bank to deposit one or two checks at a time.
- Save time and hassle – trying to collect on bad checks is a waste of your companies resources and rarely results in funds being collected.
While the umbrella of “check services” covers a wide range of products, here are some basics of each. Feel free to give a call at 866.326.3480 or email contact@merchantsolutionsllc.com for more info on any of the below programs
Check Present Services
Check present services are when you have the actual check in hand. This is typical of either a retail setting where a merchant accepts paper checks or mail order services where the check needs to be cleared before the product ships. Check present services require a check reader used in conjunction with your credit card terminal. Funding is typically 2-3 business days.
Check Conversion – Check conversion is a remote check deposit where the check is run through a reader and “converted” into an electronic payment that can be submitted with your credit card batch. The check is then handed back to the customer.
Check Conversion with verification – check is scanned in as above and checked against a national database of bad check writers. Any NSF check is automatically submitted 2-3 additional times.
Check Conversion with Guarantee – The same process as above, but with a guarantee of funding. Scan the check in and it will authorize or decline real time like a credit card transaction.
Check Not Present services
ACH – the most basic “no frills” service, an ACH draft allows you to debit your buyers checking account directly. There is no physical check required, and ACH’s are non-guaranteed service.
Check by Phone – A great way to accept payment when your client is not able to present a physical check, or when you need to initiate the transaction in a timeframe that does not allow for a check to be mailed, received and then deposited. Your client provides you their account and routing number, along with a signed authorization or recorded verbal authorization. You then input the information into a virtual terminal and process the transaction. This is available with both check guarantee and non-guaranteed funding options. Ideal for utility services, insurance offices, or any type of call centers.
