It can be challenging to stay on all the different payment options accessible to your business, especially in an era where electronic payments are the norm and cash, and traditional checks are declining in popularity year after year. However, business owners must know the advantages and disadvantages of each payment option they may provide to clients. The more sales you make, the more significant the fees and flexibility of different payment alternatives become.

1. Merchantech
Payment Processing Services

2. What is Electronic Check Payment?
It can be challenging to stay on all the different payment options accessible to your business, especially in an
era where electronic payments are the norm and cash, and traditional checks are declining in popularity
year after year. However, business owners must know the advantages and disadvantages of each payment
option they may provide to clients. The more sales you make, the more significant the fees and flexibility of
different payment alternatives become.
Payment processing is key to building a solid foundation for your organization that will support rapid
expansion. Even a tiny percentage improvement can result in significant long-term savings for your company
because transaction costs can build up quickly.
Additionally, offering your consumers the finest choice boosts customer happiness and raises online
conversion rates. It's not just about keeping an eye on transaction fees.
Many companies allow consumer eCheck payments in addition to other types of online payment. Here is a
description of an eCheck and how it operates.

3. What is an E-check?
A standard paper check is replaced by an electronic check or eCheck. An eCheck involves:
a. The electronic withdrawal of funds from the payer's checking account.
b. Their transmission across the ACH network.
c. Their deposit into the payee's checking account.
The "Automated Clearing House" (or ACH) network, a digital network utilized by American financial
institutions, facilitates these payments. A company can take money from a customer's bank account to
pay for goods or services when they have an ACH merchant account. The customer must authorize the
payment by a signed contract, acceptance of "Terms and Conditions" on a website, or a voice
recording.

4. How do E-check works?
Processing checks electronically is far quicker than processing checks on paper. Technology enables the
process to happen electronically, saving time and reducing paper waste. Instead of a customer
manually filling out a paper check and sending it to the company they need to pay, the process can
happen electronically.
To process an electronic check, follow these steps:
Customer authorization is required before the company can complete any transaction. This can be
accomplished by a signed order form, recorded phone call, or online payment form.
Setup of payments: Following authorization, the company enters the payment details into the
software for accepting online payments. If the payment is recurring, this information also contains the
specifics of the schedule.

5. How do E-check works?
Complete and send: After entering the necessary data into the payment software, the company clicks "Save" or
"Submit" to initiate an ACH transaction.
Money deposited: The customer receives a payment receipt from the online software, and the payment itself is
deposited into the company's bank account. The payment is automatically withheld from the customer's bank
account. Three to five business days following the start of the transaction, the money is usually placed into the
merchant's bank account.

6. Benefits of using E-checks?
Checks provide numerous advantages for both customers and business owners. These advantages
consist of:
Lower Costs: Using an eCheck is far more cost-effective than using a credit card when making or
receiving big payments from clients, such as regular rent, mortgage, or insurance premium payments.
More rapid turnaround It may take an eCheck the same number of days to clear as a paper check.
However, eCheck transactions are a significantly faster payment method because they do not require
manually filling out a paper check and sending it to the recipient through the mail.
Security: Paper checks are vulnerable to manipulation, which results in serious security lapses. Since
eChecks are processed using the ACH network's security, it is unlikely that someone will try to commit
fraud by handing you a bogus check.
Automated Payments: One of the biggest advantages of using an eCheck is that the process may be
automated. eChecks can be automatically generated and distributed each month simultaneously if you
make recurring payments.

7. What types of payments can be made by eChecks?
Anyone that accepts electronic checks and payments can accept them.
For recurring payments, e-checks are effective. Several instances include:
1. Mortgage obligations
2. Memberships in health clubs
3. Repayments on a car loan
4. Rent obligations
5. Paying with a credit card
How long does it take to process an eCheck?
eChecks normally take 24 to 48 hours to verify, and it takes 3 to 6 business days for the money to leave
the account and be deposited into the appropriate one. Because eChecks use a third-party system
(ACH) to start the EFT, they are not processed instantly. It may take a few days before you see money
flow because ACH makes these transfers in batches rather than one at a time.

8. E-checks v/s Credit card payments
Payments made with credit cards and e-checks are handled very differently. E-check does not use the card
networks for fund transfers; instead, it uses ACH. It results in decreased processing costs, which is especially
advantageous for companies that handle large or regular payments.

9. High-Risk Merchant Account
You've found the best spot if you're seeking a high-risk merchant account. Businesses in the US and abroad can
get secure high-risk merchant services from Merchantech. All companies deemed high-risk merchants are
encouraged to apply.
Low Prices While offering you top-notch technology and service, we aim to help you save money on payment
processing. Get in touch with us right now for free rate comparison.
Quick approval. To fill more orders more rapidly, start processing right away.
US and international banks that purchase. All types of organizations can get high-risk merchant services thanks to
the availability of receptive banks.
Accounts with high transactional volume. Obtain processing power to expand your company.
Echeck payments and ACH accounts with high risk. A simple technique to improve US consumer sales by 10–30%.
False fighting tools A wide range of powerful tools for combating fraud enable you to accept legitimate orders and
reject erroneous ones rapidly.
Outstanding customer service. When you need help, experienced, qualified representatives give it to you.

10. How much does E-check processing costs?
Processing e-checks is free of charge generally. The final cost associated with an e-check transaction depends on a
variety of factors and variables, much like credit card acceptance.
However, echecks should be much less expensive than credit card processing. The costs will probably be in the
same ballpark as accepting ACH payments.
Depending on your bank and checking account, you can be charged a per-check fee for each remote deposit.
Some banks can even charge you a monthly fee using check-scanning equipment.
Expect to pay some percentage and flat cost for each transaction if your present processor uses a payment
gateway to facilitate your echeck transactions. Additional fees from your processor will probably be charged,
including ones for equipment, setup, applications, check verification, high ticket surcharges, batch fees, ACH
return fees, and more.
These costs are frequently unneeded and negotiable. Please contact us to have our staff at Merchantech for the
processing fees on your behalf.
E-checks are slower than credit card processing but are less expensive. With an ACH processor, your money might
not be in your account for 3-5+ working days. Payments from merchantech might be deposited into your account
sooner.

11. What details are required for the processing of an eCheck?
The payee must have a registered ACH merchant account to submit an electronic check. Supplying the
information below makes it possible for the business to take electronic payments and is
straightforward to set up:
 The ID number for federal taxes
 Address and name of the company
 The volume of transactions processed
 Years of operation
 Account information

12. Who should accept Echecks?
Fees for credit payment processing might be as high as 3.5 percent; this does not account for
additional expenses related to your merchant account.
Depending on the supplier, they are processing an eCheck costs between $0.10 and $1.50 on average.
If you process more extensive checks, this is a fantastic deal. While the processing fees for a $10,000
credit card payment might cost you more than $350, they are less than the price of a cup of coffee for
an eCheck payment. eChecks are particularly beneficial for companies that take significant payments.
Fees for credit payment processing might be as high as 3.5 percent; this does not account for
additional expenses related to your merchant account.

13. How to send an eCheck payment in very easy steps
An eCheck can often be sent in two different ways.
The first option involves getting the recipient to send you an online payment form, which you fill out
with information like your checking account number, bank routing number, and payment amount. Then
you send the payment to the payee and permit the stated amount to be taken out of your checking
account.
The payee will use a (typically automataed) process to submit the payment information and bank
account information when creating and processing an eCheck online. They can then give the recipient
their approval for the payments.

14. Is E-check secure?
There is always a risk factor involved when discussing any internet transaction. We can't pretend that
cybercriminals and hackers aren't becoming more sophisticated every year.
The same risks apply to bank transactions as they do to electronic checks.
However, most financial institutions and professionals believe they are safe to use. In actuality, eChecks
are more secure than the paper-based option.
Paper checks carry a higher level of risk because a tangible document can be taken and falsified.

15. Contact Us:
Email Us: csr@merchantech.com
Website: https://merchantech.com/
Address: 230 S. Sterling Drive #260
Mountain House, CA 95391