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Check Guarantee Service: Introduction
For more than 35 years, merchants and consumers alike have sought assurance with the familiar red-and-white TeleCheck logo, knowing that TeleCheck reduces merchant risk in accepting checks while providing an easy, hassle-free payment option.
TeleCheck's Guarantee Service continues to be the gold standard in check acceptance. If TeleCheck approves a check, you know it's good. This means you can accept low-numbered, out-of-town, even out-of-state checks with confidence, knowing that you have the industry's most sophisticated check approval system backing you up.
Paper Check Guarantee Now Better Than Ever
We continue to offer our traditional paper Check Guarantee Service. And, thanks to recent technological advances in our risk management systems, this service is now better than ever. TeleCheck automatically warrants the full face amount of any check approves, provided all of TeleCheck's simple procedures have been followed.
And TeleCheck's reimbursement period for paper checks is short. Merchants may be reimbursed as quickly as seven days after the check has been received by TeleCheck with Automated Clearing House (ACH) settlement of monthly billing.
Check Guarantee Service: Benefits
- More checks accepted = more business
- Guaranteed to be paid for the full face amount of the check that TeleCheck approves, provided all of TeleCheck's simple procedures have been followed
- Weekly reimbursement on returned checks = no long waiting period to be reimbursed on returned checks
- Accept low-numbered, out-of-town, even out-of-state checks with confidence = more business, greater customer satisfaction
Check Guarantee Service: Features
- TeleCheck authorizes the check
- TeleCheck automatically warrants the full face amount of any check it approves, provided all of TeleCheck's simple procedures have been followed
- Weekly reimbursement on returned checks
- Accept low-numbered, out-of-town, even out-of-state checks with confidence
Electronic Check Acceptance® (ECA) Main Page Introduction
For more than 35 years, merchants and consumers alike have sought assurance with the familiar red-and-white TeleCheck logo, knowing that TeleCheck reduces merchant risk in accepting checks while providing an easy, hassle-free payment option.
TeleCheck again leads the way into a new era in check acceptance with a revolutionary process that combines the benefits of checks with the safety, speed and ease of electronic money movement and delivers "The Power Of The Check Without the Paper.© "
TeleCheck Electronic Check Acceptance® Service
It's called the TeleCheck Electronic Check Acceptance (ECA) service and it will literally change the way you think about checks now and in the future. This service not only delivers a streamlined check acceptance process, but also eliminates returned checks, returned check fees and warranty claims, while reducing check fees and trips to the bank. It also means reduced paperwork and improved cash flow through faster closing/balancing and settlement.
Converts Paper Checks Into Electronic Items
Designed to mirror the process currently used for credit cards, the ECA service converts paper checks into electronic items at the point of sale and automatically deposits these funds into your account utilizing TeleCheck's Eclipse? payment terminal, a specialized set of terminal and host software and the National Automated Clearing House (ACH) system.
Release the Power
The process is simple. After the check writer presents his check, the clerk authorizes it through TeleCheck and gives the check writer a printed receipt for signature. This signature allows TeleCheck to electronically present the transaction to the check writer's bank for settlement and that money is automatically deposited in your account. And, because the electronic transaction is TeleCheck's responsibility, if it fails to clear the check writer's account, you'll never see a returned check or returned check fees. The bad check or transaction is TeleCheck's responsibility.
Electronic Check Acceptance: Benefits
Merchant Benefits
- More checks accepted = More business
- No more returned checks and returned check fees
- Greater productivity
- Reduces trips to the bank
- Lower net cost of checks
- Customer satisfaction
- Consumer Benefits
- Retains the same float as paper checks
- Reduces risk of personal information being used fraudulently
- Records of complete transaction on bank statement
- Quicker process at the point of sale
- Receives cancelled check back on the spot
Electronic Check Acceptance: Features
- Accepts checks from US/Canada/Puerto Rico anytime, any day from anybody
- Funds checks electronically just like credit cards
- Reduces time spent reconciling and preparing deposits Electronic closing
- Eliminates need to deposit checks in the bank
- Eliminates bank charges associated with accepting checks
- Speeds up check out time with advanced terminal solution
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