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Are Electronic Check Payment Services Right For You?

Are you a merchant looking for a way to collect eCheck payments from your customers? Do you want to know more about eChecks? Don’t worry! This article is here to help you with electronic check payment and the best processor for this.

Electronic Check Payment: What It Is?

It wasn’t long ago when people wrote personal checks, the recipient delivered them to their bank for deposit and didn’t expect anything beyond manual processing. The process was slow: it could take days to complete, so the depositor was obliged to wait for the funds to clear.

Today, the situation has completely changed. Thanks to the latest advances in technology, paper checks have turned into electronic transfers (debits), aka electronic checks or eChecks. Specifically, an eCheck is a type of payment made via the Internet, or another data network. In fact, electronic check processing has similarities with paper check processing, only it’s speedier.

The first credit card terminals appeared in the market when electronic payments were just starting. An eCheck is included in the larger electronic banking field and makes up part of a subset of transactions called electronic fund transfers (EFTs). eChecks aren’t the only option included in the EFT: the latter includes other computerized banking functions as well, such as ATM withdrawals and deposits, debit card transactions, and remote check depositing features.

For merchants or service providers, funds are electronically transferred from a customer/client’s bank account directly into your bank account with the help of the Federal Reserve Bank’s Automated Clearing House (ACH) system.

Electronic check payment can be easy and affordable to process if you work with a reputable credit card processor like EMB is voted the #1 high risk processor in the US and has an A+ rating with the BBB. helps merchants see funds from check sales right off the bat when they use iCheck. This is the electronic check processing service offered by EMB. To enjoy the benefits offered by this revolutionary and unique instant check processing service, it only takes to fill out EMB’s online application now. It’s simple and hassle free. specializes in the high risk space and provides personalized payment solutions both to new and established merchants to help them reach more success.

Features and Benefits of eCheck Payment Processing

eChecks are a modern take on the traditional check, so they are processed in fewer steps. What’s more, they boast added security as compared to standard paper checks. So, eChecks offer authentication, public key cryptography, digital signatures, encryption, and other important features. Thus, there’s a lower risk that your funds can be stolen: there isn’t any tangible item to intercept.

Next, the costs for issuing an electronic check are significantly lower, which can’t be said about those associated with paper checks.

Moreover, using eChecks, you can avoid the process of taking checks to the bank. Besides, there aren’t any deposit slips to complete. Beyond that, you get your funds faster. Those working from multiple locations can convert these checks at each location and get funds deposited into one main account.

To process electronic checks, you should:

  • Request authorization
  • Set up your payment
  • Finalize and submit
  • Confirm your payment and the funds will be deposited

Nowadays, credit/debit cards offer perfect convenience and ease of use to consumers, however, the usage of checks is still a preferred scenario for many. By the way, the US Treasury considers eChecks the only method for electronic payments that’s available to complete large payments over the Internet.

eCheck can be used in-store, where the merchant scans the customer’s written check, and online where the customer enters his/her banking information in a secure portal. The great thing about eChecks is that customers’ insufficient funds are immediately shown for the purchase, so there’s no need to deal with returned checks.

The way people make payments is changing faster than one could imagine. The changes in digital technology, competitive forces, and consumer demands are the three major reasons for this. By the way, no other area of financial services is changing with similar speed. So, working with a respectable payment processor that can help you with payment processing, including eChecks, is vital.