Electronic Check Conversion

PROCESS CHECKS JUST LIKE A CREDIT CARD!

Changing Paper Checks to an Electronic Item Benefits You and Your Customers.

Now you can take advantage of electronic commerce to increase employee productivity and to improve customer service. Electronic Check Conversion (ECC) converts a traditional paper check into an electronic item at point-of-sale and processes it through the Federal Reserve's Automated Clearing House (ACH).

Electronic Check Conversion saves time and money while reducing the risks of NSF checks.  A check is now as hassle-free as a credit card transaction.  It's more efficient and secure.  And it lets you focus more on your business and taking care of your customers.

Ending the Paper Trail with ECC...

During the 1980s, technology revolutionized the payments world.  No one uses a manual imprinter to accept credit cards any longer.   Instead, merchants handle credit card transactions through EFT (Electronic Funds Transfers) using VeriFone or similar terminals.  Paper checks have remained non-automated...until now!

Here's how ECC™ works:  The VeriFone Omni 3200 and the RDM Check Imaging Scanner is the equipment used for Electronic Check Conversion (ECC). First, it dials out to the negative database to verify if the check writer has a bad check writing history, and then converts the check to an ACH transaction. The OMNI 3200 has an integrated thermal printer that prints a receipt containing the ECC authorization language that authorizes the transaction amount plus any return fees to be electronically debited from the customers account if the transaction comes back as non-sufficient funds. The OMNI 3200 can also be used for credit cards and debit cards.

• The Merchant must use a check reading device to capture the MICR data from the check, i.e. bank routing number, customer account number and check serial number, which will be used by the Merchant to electronically debit the consumer's bank account.
• The Merchant may not key enter the MICR information from the check instead of using a check reading device, nor may a Merchant key enter the MICR data after the check reading device has been used to capture the data.
• After the data is machine captured, the Merchant will then key enter the dollar amount of the transaction, after which an authorization will be provided to the consumer to sign, authorizing the debit to his account.
• The Merchant must provide to the consumer 
  1) The consumer's source document which the Merchant has voided; 
  2) A copy of the consumer's authorization, and 
  3) A receipt containing specific information relating to the purchase.

The transaction is electronically transferred through the ACH system where funds are debited directly from the customer's account and deposited automatically into the merchant's account usually within two banking days.

Electronic Check Conversion Works Harder!

• Faster check processing.
• Bank consolidation: funds can be centralized, while converted at each retail location.
• Checks are electronically deposited in your account.   No more trips to the bank.  No more check deposit slips to complete.
• NSF and other returned items are discovered faster, expediting the collection process.
• Quick detection of check fraud reduces your exposure to the intentional bad check writer.
• Eliminates lost or stolen checks before deposit.
• Check verification at no additional cost.
• Immediate reports through each point-of-sale terminal.

Electronic Check Conversion with Auto-Collect

When your customer pays by check, which is converted to an electronic item at the point-of-sale, occasionally those items may be returned for various reasons.  With Electronic Check Conversion, you have an added advantage:  our automated electronic recovery system, Auto-Collect.

• Eliminates NSF bank fees.
• Collected and released checks are paid twice monthly
• Helps retain your customers with "behind the scenes" recovery rather than the traditional annoying calls and letters.
• Your customer avoids the embarrassment of having to deal with a "bounced" check!

eSolutions for Business - All Rights Reserved.