What is iCheck and its Benefits?
iCheck is a means of electronic check processing and facilitates faster funding on a wider variety of checks. It also has fewer restrictions than ACH. This flexibility makes Remote Deposit Capture ideal for many sales environments. Checks can be accepted at the Point of Sale or when the consumer is not present. Making this the future of check processing!
- Checks of all types can be processed, including personal, business, government, traveler’s, cashier’s certified, and money orders.
- There are no ACH restrictions.
- No consumer notification or receipt is required.
- There is no check writer authorization requirement.
- Funding is guaranteed for transactions.
- Free online monitoring of activity.
- Fast electronic deposit of funds in as little as 24 hours.
- Deposits to merchant’s existing bank account, not a separate account as with other processors.
- Save a trip to the bank by using iCheck.
Who is iCheck for?
What types of businesses can utilize iCheck
- Mail order
- Property leasing and management
- Other types of non-traditional business may take advantage of iCheck.
There are three programs available regarding iCheck, based upon your business needs.
- iCheck POS is for face-to-face transaction and card terminal or web-based processing.
- iCheck Remote is for transactions where the consumer is not present, and card or web-based processing.
- iCheck Payroll is for cashing business and corporate checks, and card or web-based processing.
What Equipment do I need to start?
Regardless of the type of iCheck program you implement, you will need a check imager that can scan and read both sides of the check.
If you’re interested in implementing iCheck into your business, call 1-800-621-4893 or fill out the form to get started now!