Merchant Articles

Accept e-Checks- If you have an eCommerce website you should be accepting e-Checks as a form of payments. This accept e-Checks tutorial is going to explain to you how you can accept e-Checks and the benefits of accepting e-Checks. Accept e-Checks!

What are e-Checks? e-Checks are a form of payment in which you are basically accepting a check without the check being present. The customer enters the checking account number and authorizes you to deduct the payment from their checking account. In some instances the customer is able to enter a check number but that is strictly for their benefit in case they want to track their purchase through their bank. e-Checks are very similar to debit cards that are linked to checking accounts but don’t have an card number.

What are the benefits of accepting e-Checks? Business Merchant Account has listed our top five reasons why you should accept e-Checks. Those reasons are:

1. Faster transactions times- When you compare the time that it takes to write a check than the time it takes to enter the account number it is a lot faster to just write the account number. Customers really like not having to write checks.
2. No paper checks to deposit- One of the biggest hassles with running a business is processing paper checks and making bank runs. When you accept e-Checks you don’t have to worry about cashing paper checks.
3. Receive payments faster- Because you are electronically connecting to a checking account you are accessing their account immediately. There is no need to wait for checks to clear and then get your money. With the use of a merchant account, accepting e-Checks gets you your money fast!
4. More revenue for you- That’s right you can actually earn more money when you accept e-Checks. This extra revenue will come from the loss of return check fees and faster processing time which results in more business.
5. Better for the environment- Yes accepting e-Checks is better for the environment. Because your customers are not using paper checks they are saving trees by not having to print checks.

How do you accept e-Checks? Accepting e-Checks has never been easier than it is today. Thanks for all the advances in technology if you aren’t accepting e-Checks you are out of the norm. e-Checks can easily be accepted with the help of merchant accounts and payment gateways. These two tools will allow you to easily accept e-Checks and process them. Without these tools you can still accept e-Checks but a different form of them. In the alternative way to accept e-Checks you would not have the check processed until you printed the check from your printer and deposited it in your account. Basically this way only cuts down on postal time. It is the least favorite way to accept e-Checks.

What are the fees to accepting e-Checks? Typically you won’t be charged for accepting e-Checks. That is if you sign up with one of Business Merchant Account’s recommended merchant account providers. There are some that charge you to accept e-Checks but those are the companies that have very high merchant account fees. All three companies that Business Merchant Account recommend have some of the cheapest merchant account fees.

Merch. Warehouse

Charge.com

MerchantExpress