E-Check Payment Solutions
E-checks can be described as the electronic version of the traditional paper cheque used to pay for goods or services online. Many companies seek e-check accounts to enable their customers to pay for goods via electronic checks giving the customer more freedom and flexibility in payment options. EFSAG can provide comprehensive advice and guidance on how to obtain e-check payment solutions and how to effectively process e-checks in accordance with necessary standards and regulations.
For more information on how EFSAG can assist you with e-check payment solutions, please Contact Us.
About E-Check Payment Solutions
E-checks are a popular payment solution opted for by companies across the globe to allow US and Canada customers to pay for goods or services through electronic checks. E-checks will withdraw the amount stipulated on the check from the individuals bank account for payment of the goods, however customers can only pay via e-checks where the company accepts this form of payment.
Many individuals are concerned with using credit or debit cards online with the heightened risk of ID fraud and so it is advised for companies to offer an alternative method of payment such as e-checks to provide customers with greater freedom and privacy in choosing their ideal method of payment. E-checks can be accepted by any type of organization or merchant regardless of their size however at present e-checks are only accepted from customers in Canada and the USA.
What is Required to Process an E-check
Companies offering e-check payment processing will require the e-check to include the individual’s bank account name, bank account number and bank routing number. Like traditional cheques, an e-check requires a signature to be made where it is used to pay for goods or services online. The payee and payer can sign the check by using a digital signature.
As e-checks can take up to 5 working days to clear it is important that the individual paying via e-check has available funds in his/her account. EFSAG can help organizations to clear cheques in order to successfully process them and obtain the required payments.
There are two main ways of processing e-checks, namely; ACH (automated clearing house) and Check21, both enable e-checks to be processed and cleared however ACH can take longer to process funds.
Obtain E-Check Payment Solutions using EFSAG
EFSAG consultants are experienced in all areas of payment solutions, particularly e-checks, and can provide comprehensive guidance on how to obtain e-checks as a payment solution. In addition, we can advise you on how to use your e-check facility to its full potential and inform you of how e-check processes works. We will help you with the clearing of e-checks in order to successfully obtain your payments. In order to process e-checks EFSAG can help you to set up a merchant account and bank account in order to do so. With many years of experience in payment solutions, EFSAG is fully equipped to support you every step of the way in obtaining your e-check payment processing solution in a professional, timely and cost effective manner.