Reducing the collection of cash and paper checks is possible when taking advantage of the many digital payment options available. E-checks, or electronic checks, are a popular alternative to paper checks and wire transfers, allowing businesses to securely process ACH payments directly from a customer’s bank account. With reliable echeck merchant services, businesses can simplify payment collection while reducing transaction costs and administrative work. Some reasons to use e-checks include:
- Cost-effective, simple, secure, and hassle-free.
- Easy and efficient payment collection tools that streamline transactions through e-invoices, text payment links, direct data entry, and other digital payment solutions.
- Clients receive an automated receipt as do you, helping improve recordkeeping and payment transparency.
TransAct offers echeck merchant services and ACH payment processing with all of our merchant services accounts, giving businesses a reliable way to accept electronic check payments online or in person.
E-Check Merchant Services
Save on Payment Processing with E-Checks
E-checks are cost-effective bank transactions with no wire fees and lower costs than credit card payments. With Transact Merchant Services, enjoy zero percentage-based fees for seamless and affordable transactions.
E-Checks vs. Paper Checks: A Faster, More Efficient Payment Solution
While they may sound similar, e-checks and paper checks are quite different. One major advantage of e-checks is speed —paper checks require clients to write, mail, and wait days for processing. Once received, they must be opened, recorded, endorsed, and deposited, adding unnecessary delays. These steps, provide a faster, more convenient, and secure way to receive payments.
E-Checks vs. ACH Payments: Faster, More Affordable Transactions
E-checks and ACH (Automated Clearing House) payments may seem similar, but they process differently. ACH transactions can take several days —just like paper checks–causing delays in fund availability.
With TransAct, e-checks come with no percentage-based fees, unlike many merchant processors that charge a base fee plus 0.5% or more percent of the sale amount.
So, lower your receivables TODAY! Contact Us on how to implement electronic checks, digital checks, EFT (electronic funds transfer), bank transfers, and bank payments, e-checks offer a faster, more cost-effective way to accept payments.
* Note: These last two are not the same as a bank check which is a physical, paper check issued by a bank as requested by the account holder. This term is not typically used in the US and has been known to cause some confusion.
