Accepting Checks Can Increase Business Opportunities

 In Payment Processing

Fewer people use checks than they did in the past.  More consumers are using Paypal, ApplePay or other epayment methods or they use plastic. There is still a place in many businesses for accepting checks and Premier Business Advantage is here to help. 

Although the use of checks can seem old-fashioned, echecks can actually help reduce the chance of fraud, decrease losses because funds are immediately taken out of an account, and reduce the risk of insufficient funds. Technology makes accepting checks just as safe as other forms of payment.

Some options when using our check acceptance systems include:

Standard Verification

  • Standard verification ensures the customer is who they say when they make the purchase,
  • This process can also reduce the liability of the merchant by not guaranteeing funds,
  • Checks can be deposited at the bank.

Standard Guaranty

  • Businesses can reduce their risk by authorizing customers when they attempt to use the check,
  • Checks can be deposited at the bank,
  • Returned checks can be submitted for reimbursement,
  • There is a guarantee on stop payments, multiple payments, and business checks.

Premium Verification

  • Checks are accepted quickly with electronic processing,
  • Checks can be deposited from any computer “desktop”,
  • Banking is handled the same way from different locations,
  • Does not guarantee funds, so merchant liability is reduced.

Premium Guaranty

  • Check acceptance is streamlined thanks to electronic processing,
  • Checks can be deposited from any computer “desktop”,
  • Banking is handled the same way from different locations,
  • Business checks are processed and guaranteed,
  • The account remains whole while guarantee eliminates claim submission.

Some customers prefer using paper checks so they can have a simple trail to follow as they track their expenses. Actual copies of checks go to the customer, and to the business that accepted that form of payment. Not accepting checks means a business runs the risk of losing customers. That is a losing proposition for everyone. If you would like to learn more about accepting checks in a safe and reliable way, please contact us.

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