Cheque Payment Solutions
A cheque is a traditional method of payment in paper form that enables a bank account holder to purchase goods or services from a company. Holders of a current account or chequing account are permitted to use a cheque as a method of payment and this particular approach is a favored payment solution for many individuals and companies. EFSAG can provide you with advice and guidance on using cheque processing as an effective payment solution for your business. Our dedicated consultants can also advise you on how to use cheque processing facilities in line with the relevant industry rules and regulations.
For more information on how EFSAG can assist you with cheque payment solutions, please Contact Us.
Cheques as a Payment Solution
Accepting cheques enables companies to reach a greater target market as many people prefer to pay via traditional methods of payment. To process a cheque as form of payment, the cheque must include the following information on it,
- Amount of money to be paid
A cheque payment includes the individual or company information writing the cheque together with the information as detailed above. The cheque is then submitted to the relevant institution for payment of goods or services and the institution will then process the cheque. The amount conveyed on the cheque will then be withdrawn from the individual’s account and this could take up to several working days to clear.
A cheque basically acts as an order instrument that details the amount of money to be withdrawn from a bank account to be paid to a particular company or person.
Types of Cheques
There are a number of types of cheque available as forms of payment. Some of these include;
- bearer cheque
- order cheque
- uncrossed cheque
- cross cheque
- anti dated cheque
- post dated cheque
- stale cheque
Cheque Payment Solutions with EFSAG
EFSAG consultants are experienced in providing cheque payment solutions to companies of all sizes to ultimately permit the organization to accept cheques as a form of payment. Our dedicated professional consultants are equipped to guide you through every step of the way in obtaining cheque payment processing solutions, and to advise you on how to operate the processing facility to its full potential. In order to process cheque payments you must obtain a bank account, EFSAG can assist you in obtaining an account in a timely and cost effective manner.