Echecks may soon become as household name for merchants as credit card processing. As merchants, you have many choices when it comes to funds acceptance; due to credit drying up, Echecks and ACH have become a more popular, and a more secure form of completing a transaction.

An eCheck is the digital form of writing a check from the paper checkbook in a consumer’s wallet, check number and all. For merchants, accepting these is like taking cash.

• Low processing fees- Paypal may be as much as 3% of the transaction value. Echecks usually cap at $5. This is definitely a cost savings when high dollar transactions are made.
• Individual check processing available through virtual terminal or batch processing for merchants. This allows for immediate processing, less chance of fraud and less work later on.
• Daily payment: funds are transferred daily and merchants have unlimited access to their account online. You, the merchant own this account; there is no reconciliation period.
• Secure process, as fewer eyes view consumer information. Individual electronic transactions create a more personal payment process, allowing for fewer mistakes.
• Easier refunds, as funds don’t need to clear to cancel a transaction- happier customer. In the event of an unjustified refund request, the merchant has control over that process as well.
• Much faster than batch submitted ACH process.
• More accurate submissions: funds verification is possible electronically before the transaction is processed.
• Receive NSF within 48 hours