O n l i n e
electronic check (continued)

Once the information has been input by the customer, the bank RTN (routing) numbers are verified immediately to insure the financial institution exists. The data is encrypted and transmitted to CHEXpedite online electronic checks’ secure server for posting. The system debits the customer’s account electronically and transfers the funds into the merchant’s account. A receipt is generated and a copy is e-mailed to the check writer.

If the account number is incorrect or the account has insufficient funds, the system notifies you AND collects any NSF items…without ANY fees!

The majority of internet check programs merely provide a paper check for your deposit. This type of system is slow, costly and difficult to manage when compared to a purely electronic solution.

Expand Your Online Payment Options Today.

The benefits to the online merchant are enormous. In addition to expanding your market by having an additional payment option, your company can benefit in the following ways:

Save up to 50% in the processing fees compared to credit cards. Merchants pay a premium for real-time credit card processing. By promoting electronic online checks as the first payment option, merchants will experience reductions in processing fees, which will significantly improve their bottom line. The acceptance of electronic checks, in addition to credit cards, enhances payment options, security and convenience. Online electronic checks can help increase sales by capturing orders from customers who prefer alternatives to credit card payment, or impulse consumers. Consumers can submit a check payment immediately, rather than writing a check and mailing it.

Access online “real-time” reporting on accounting activity. Merchants can access reports via the internet 24 hour a day, 7 days a week. These reports will facilitate the merchant’s bank statement reconciliation.