An electronic check payment that is termed to be as “echeck payment.” It is an automatic method of transferring the funds by utilizing the benefits of an ACH network to the payee’s checking account. So if you are looking for an echeck payment processing solution, you came to the right place. Theecheck offers the best and convenient merchant account and payment processing solutions for every category of businesses. Contact us today at +1-855-403-3855.
What Is The Procedure To Accept Echeck Payment?
A merchant can take the benefits of echeck services to retrieve the authorized payments from the customer quickly. All the payments for the products or services sold online or offline from your business can be processed faster with the help of an echecks merchant account. The echeck payment gets processed faster while compared to the regular paper checks. This provides a hassle-free experience because it does not require manually filling all the details and then posting it to the business merchant. That’s why it also saves a lot of time and the postal charges associated with it.
Electronic check payment for a small business involves these processes:
- Requesting For Approval:
To start the payment process, the business merchant needs to take approval from the customer regarding the transaction. This request can be initiated with the help of a call or an online payment portal.
- Setting Up The Process:
When the client approves the echeck payment, they need to provide all the required details over the call or through the online portal.
- Finalize The Process:
After providing all the necessary payment details, submit the payment request form so that it can be processed further over the ACH network.
- Completing The Transaction:
After submitting the online payment form with all the necessary details, the funds get debited from the client’s bank account. It may take around three to five business days for the funds to be reflected in the business merchant’s bank account.
Can Recurring Payments Be Accepted Through Echeck Payment?
Yes! Echeck is one of the most popular methods to accept recurring payments. Echeck payment can be utilized to pay the regular utility bills, mortgage payments. The bank officials ask the customers to fill the form to initiate the recurring echeck payment solution. After this, the funds will get transferred automatically from the customer’s bank account to the payee’s bank account for a fixed tenure.
How To Get The Echeck Merchant Account To Accept Echeck Payment?
Theecheck has made things simpler for you. Now a merchant can easily apply for an echeck merchant account and take the benefits to accept echeck payment. Just fill the application form with all the required information of your business. After that, submit the application form along with the following documents to complete your verification procedure.
- A government-approved identity document like a passport or a driving license.
- Void Check
- Bank account transaction records up to the last six months.
- If applicable, processing records up to the last six months.
- Social Security Number(SSN) or Taxpayer Identification Number (TIN).
What Are The Charges Associated For The Echeck Payment?
We at Theecheck provide the electronic check payment processing solution at a very affordable processing fee. The pricing varies from the low-risk payment processing merchants to the high-risk merchant processing. You can contact us at [email protected] to get all the details for your business needs. We always provide the best possible processing solution for your business model so that you can make more revenue from your business trades.