Check Guarantee Conversion / Check Conversion
Process Checks like they were Credit Cards!
Use electronic check conversion to transfer information from a paper check into an electronic payment from your customer’s bank account. With Check Guarantee, merchants can relax knowing that they will still receive payment even if a customer writes a "bad check."
Check Guarantee Details
- Check Guarantee Conversion program occurs at the Point of Sale.
- Face-to-face transaction required.
- After the check is read and processed, it is handed back to consumer.
Procedure at the Point of Sale
- Merchant will swipe check through a check reader and input drivers license number and amount of sale.
- If transaction is approved a duplicate receipt will print and the customer completes the receipt.
- The check is stamped "ACH Processed" and the check along with the receipt are handed back to the consumer.
- Check Processing Company will fund merchant on transaction in 48-72 hours similar to a credit card. (Consumer still experiences a 2 day float.)
- Merchant will not be charged back for any returned checks. (As long as proper procedures are followed.)
- The receipt must have consumers signature, printed name and phone number.
- Drivers license number must be entered into terminal.
- Merchant must batch out daily and provide a copy of receipt within 48 hours of the Check Processing Company's initial request.
- Check must be from the consumer's PERSONAL checking account!
- Increase sales by accepting all types of checks including out-of-state checks.
- Eliminate bad checks.
- Faster availability of funds.
- Eliminate NSF and deposit fees from local bank.
- Streamline accounting by eliminating the sorting and depositing of paper checks.
- Process is easy to learn for it mirrors Credit Card transactions.
- No paper claims to file for bad checks.
- Detailed online reporting available.
Internet, Retail, Service Industry, Mobile Merchants, Government,