Many companies prefercheck processing by phone. They want to directly benefit from taking a check by phone. What about you? Are you thinking about opting for this most popular way of taking checks from customers, clients, patients, and others as well? If you want to learn more about this type of payments, just read below.
Check by Phone
There exist various merchant services that enable accepting checks by phone. If you’re interested in this type of payment processing, you should find a merchant account that offers the service. Costs may vary based on the transactions made. However, expect most services to require a monthly fee and fee for each transaction made.
Well, checks by phone represent a patented process when checks are recreated and printed without theoriginal paper check. This type of payment processing is associated with remote authorization. So, no signature is required.
You can receive check payments faster thanks to easy-to-use software featuring advanced verification and security options at transparent costs. For this, it’s important to find a reputable payment processor offering the service.
With a respectable processor that providesa reliable and cheap checkbyphone, you can start accepting and processing checks from your customers over the phone without worrying about the security and ease of use.
Look for services that guarantee exceptional features and advantages that can make processing checks by phone fast and simple. The right service can help you enjoy the best for utility services, insurance offices, call centers, as well as bill payment call centers.
HowCheck Processing by Phone Works
One of methods of processing checks by phone is when transactions as processed as electronic funds transfers or ETF. The process is based on collecting the check info over the phone and submitting it into the computer.
Then, the data is transferred to the Automated Clearing House or ACH. The latter processes the data, after which the funds get electronically deposited into your merchant account.The customer can receive an email receipt of the transaction.
So, this is a payment option that uses your checking account without requiring a debit card. If you’re going to pay with a check, first of all, see whether thegivencompany accepts checks by phone.Other services make it possible for you to take the info over the phone and create printed checks, which will then get deposited into your account.
When it comes to the risks involved, unlike debit/credit card transactions that get cleared right off the bat, check transactions require more time. Specifically, they can require an average of 48 hours. Also, the check may not get cleared. You can dispute ETF for up to 60 days after the purchase, as it’s with credit cards. Besides, you must get your approval in advance for the amount expected to appear in your account.
To sum up, there’s nothing challenging aboutcheck processing by phone.Mostly, it’s similar to processing physical checks.Accepting checks by phone payments is a highly convenient option for customers to buy products/services from you.
Author Bio: Electronic payments expert Blair Thomas is the co-founder of high risk payment processing company eMerchantBroker that offers the cheapest and the most reliable check by phone. He’s just as passionate about his business as he is with traveling and spending time with his dog Cooper.