More merchants and companies are using electronic check conversion, which converts information from your paper check into an electronic payment from your bank account. When you give your check to a store cashier, the check is run through an electronic system that captures your bank account information and the amount of the check. The information is then used to make a one-time electronic payment from your account. Checks remain the preferred method of non-cash payments at the Point of Sale.
The nexcheck Electronic Check Conversion (ECC) program is designed to eliminate bank fees associated with depositing paper checks. Now you can do away with the returned-check fees, transportation costs, and per-item deposit fees that you currently incur from your bank. Converting your paper checks into electronic deposits is quick and easy.
Nexcheck verifies each check against the negative check database for approval and then converts the paper check into an electronic transaction within seconds. Funds are transferred directly from the customer’s checking account into your business account in as little as 24 to 48 hours.
- Guaranteed deposits — fast
- No more paper checks to retain
- No more bank deposit fees
- No more bank-returned item fees
- Reduce the time it takes to prepare deposit slips
- View batches and check images 24/7
- Centralized bank deposits for multiple locations
- Reduce the risk of accepting bad checks