| What is an 'Electronic Check'? |
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Lindsey23
Member
Cash: $ 2.50
Posts: 10
Joined: 12 Apr 2011
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| What is an 'Electronic Check'? |
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Hi,
I hear people talking about this all the time but I have no clue to what it really is
Can anybody enlighten me on this electronic check?
Can I use it if I have a bank account?
Thanks
Alfredo Piacentini
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Tue Apr 12, 2011 6:50 pm |
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coaster
Senior Advisor
Cash: $ 1357.20
Posts: 6683
Joined: 11 Oct 2005
Location: Wisconsin
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The cashier runs your paper check through a machine that takes a picture of it (with your signature on it) and transmits that picture to your bank. The check is stamped by the machine and returned to you as a cancelled check. The amount of the check is immediately deducted from your bank account. There is no "float"
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Tue Apr 12, 2011 9:58 pm |
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jimmyjhonson
Contributing Member
Cash: $ 6.60
Posts: 30
Joined: 19 Apr 2011
Location: helth
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Tele Check electronic check acceptance (ECA) verification service gives merchants an effective choice for receiving and processing checks at point-of-sale. cash is very liquid part of the business, especially in the current environment. Nevertheless, in whatever way you save some cash is great.
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Mon Apr 25, 2011 1:00 pm |
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utyerpklot
New Member
Cash: $ 0.80
Posts: 4
Joined: 30 Apr 2011
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Although most of your customers may pay by credit, debit, or with cash, allowing them to also pay by check is good for business. It is also important to determine how you are insured if the check conversion system should fail. If a check is not valid, for example, will the check conversion provider swallow the cost.
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Mon May 02, 2011 12:51 pm |
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