An electronic check, or eCheck, is the digital counterpart of a traditional paper check. It allows customers to authorize payments directly from their bank accounts by providing their routing and account numbers through a secure online form. These payments are processed via the Automated Clearing House (ACH) network.
The payer enters their bank account and routing number in a secure online form and authorizes the payment.
The transaction is submitted through the Automated Clearing House (ACH) network for verification and processing.
The customer’s bank verifies the payment details and confirms the transaction.
Once approved, the funds are electronically transferred from the payer’s bank account to your business account.
The payment is settled, and both you and the customer receive confirmation.
eCheck transactions typically incur lower fees compared to credit card payments, helping businesses reduce processing costs.
With faster processing times than traditional checks, eChecks expedite fund availability, enhancing your cash flow.
Electronic processing minimizes the risks associated with lost or stolen paper checks, providing a more secure payment method.
eChecks offer a straightforward payment option, especially for clients who prefer direct bank transactions over credit card payments.
Clients provide their bank routing and account numbers through a secure online form.
DepositFix processes the payment via the ACH network, ensuring accuracy and security.
The payment amount is electronically transferred from the customer's bank account to your business account.
Start accepting eCheck payments today with DepositFix! Reduce fees, improve cash flow, and offer customers a secure, hassle-free way to pay. Contact us for a demo!
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