E check Processing Merchant Account for High Risk Business

Posted by merchantservices on December 15th, 2017

Understanding and Process Flow of ECheck Processing..!

If you have been executing a business for some time, the chances are high that a client has asked for to make payment utilizing an Echeck. Merchants frequently let their payment processors handle the details. Also, when disputes emanate later, the merchant is left with little to do, other than accept the processor’s requests.

As an entrepreneur (who starts a business alone), it is compulsory to have at least little grasp of what goes on when a customer pays through an echeck. Be that as it may, to start with, let’s answer the obvious question: what is a check Processing?

What is an Echeck Processing?

An electronic check is a type of payment process where a client’s assets are deposited into a merchant’s account over the ACH (Automated Clearing House) network. To process such payments, a merchant requires a check processing, through which payments made by checks can be pulled back straightforwardly from the customer’s bank account.

How Echeck Processing Works?

In some ways, Echeck processing is like paper check handling, although it is faster and more efficient

Echeck Payment Processing generally takes place in the following steps.

  •     The purchase is Approved

To approve the purchase, a client can either round out an online form or converse with the merchant specifically through a recorded telephone call. Simply, after the approval, the merchant can pass the check data to the payment processor.

  •     Payment is Completed

The payment processor supervises the immediate withdraw of the funds indicated by the check from the client’s bank account, and prints out a receipt.

  •     Deposited Funds into the merchant’s bank account

It takes a few days in the wake of starting the transaction for the check to clear and the money to be deposited into the merchant’s record.

If you’re looking for any kind of information, you’re in the right place! 
Visit our services page to find out how we can help you today! 
You can Call Us at +1 888-622-6875 or Send us Email: info@merchantstronghold.com

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