Our ACH Account includes the following features:

Virtual Terminal to key-enter Checks By Phone or by Fax. API/Gateway to process online checks via your web site. Online reporting tool to track all your transactions. And a complete list of features listed below-   Small Business Enterprise Specialty Risk Activation Fee $0.00 $0.00 Review License Fee $97 $197 $347 Monthly fee $49.95 $67 $97 Transaction fee* $0.00 ** $0.19 to * Review* Discount Percent of Sales fees* 0% 0% Review* Per Transaction Limit * * * Limit on number of transactions No No No Ability for customized Accept / Decline URL's Yes Yes Yes Ability to void pending transactions Yes Yes Yes Ability to override declined transactions Yes Yes Yes Merchant settlement by pre-authorized paper drafts Yes Yes Yes Optional Electronic Check Processing Settlement (ECP - ACH Service) Option Yes Yes Yes Settlement by file Yes Yes Yes Secure hosted payment/gateway page Yes Yes Yes Ability to host secure payment/gateway page on your servers Yes Yes Yes Batch / bulk file check processing Yes Yes Yes Automated NSF Representment Yes Yes Yes Customizable payment/gateway page Yes Yes Yes E-mailed merchant new payment notifications Yes Yes Yes Embedded shopping cart function Yes Yes Yes Transaction fraud scrub Yes Yes Yes Address / Telephone Verification Service Yes Yes Yes Positive search on bank routing number Yes Yes Yes Negative data scrub Yes Yes Yes Positive real-time bank verification Yes Yes Yes Ability to block consumer accounts Yes Yes Yes Transaction history displayed Yes Yes Yes Secure Merchant Utilities Access (admin / reporting) Yes Yes Yes Download reports in plain text Yes Yes Yes Advanced searchable reporting Yes Yes Yes Ability for scheduled / prearranged payments Yes Yes Yes Customizable payment/gateway page Yes Yes Yes Developer's Package Yes Yes Yes Virtual Terminal allowable Users 3 Unlimited Unlimited Virtual Terminal Yes Yes Yes API for Internet transaction processing Yes Yes Yes API for Express Verification Service Yes Yes Yes *Based on Underwriting and Volume. **Includes 100 free transactions/month. $0.45 per transaction thereafter

Payment Gateway

SpeedCHEX Electronic Gateway allows you to establish secure automated communications between an Internet software application and the SpeedCHEX check processing system.

Services available to you within the SpeedChex Gateway:

Express Authorization Express Verify Batch Processing Transaction Status Tracking Simple Customer Interface

2 API's for submitting transactions through SpeedChex:

Customer Interface API allows you to simply set a link on your website a customer can click and they will be routed to our servers. Then we collect the check payment information and then route the customer back to your website (with or without pass-thru and other data collected from the user). This is the easiest and quickest solution to implement. Express Authorization API allows you to keep the customer on your website during the entire payment process. This means you-d be responsible for collecting all necessary information to process a check transaction. This entails getting the authorization from our servers on the back-end, and then responding appropriately to the customer. Obviously, this is a little harder to implement. However, it gives you total control over the entire process.

Express Authorization

Express Authorization is a tool designed for merchants who want to electronically submit individual, fully-formed check transactions and receive an immediate authorization status indicating whether the transaction is approved or rejected. Merchants who want to use Express Authorization are responsible for collecting and submitting all data associated with an electronic check transaction. Please see the table titled Electronic Check Transaction Packet Format for a list of all required data fields. The concept behind the Express Authorization process is fairly simple and doesn't take long to implement. The following list shows the major steps involved in this process: How does it work? Data Gathering Merchants are responsible for collecting and submitting all data associated with a fully-formed electronic check transaction. Transaction Packet Submission The merchant-s software application uses their HTTPS protocol to submit an electronic check transaction packet over the Internet to a secure URL located on the Electronic Gateway. Transaction Packet Validation The Electronic Gateway parses the transaction packet for missing data, invalid field values, security violations, etc. Customer Address Verification (optional) If you-ve activated this feature through your Financial Advisor, SpeedChex will perform address verification on the customer data. Authorization Status Notification The SpeedChex Electronic Gateway will return an -Authorization Status- in response to the HTTPS request sent by the merchant. This will indicate if a transaction was accepted for processing or rejected. Other Integration Options There are other options available for automating communications to and from the SpeedChex check processing system. They include Express Authorization, Express Verify, Batch Processing, Transaction Status Tracking, and a simple Customer Interface that can be integrated into any E-Commerce application. Please inquire with your Financial Advisor if you are interested in any of these options. Batch File Format for New Check Transactions New check transactions can be batched and uploaded to SpeedChex in a tab-delimited text file. Each transaction in this file needs to be on a separate row and each row must end with a valid end-of-line character (carriage return/line feed). Data Security and Protection All transaction data sent to and from the SpeedChex Electronic Gateway is secured during transmission using 128-bit SSL encryption verified by Thawte, a VeriSign subsidiary. The data received by the gateway is ultimately stored on the SpeedChex servers which are protected by a state-of-the-art firewall system and are restricted physically to authorized personnel. Every merchant is assigned a unique Merchant ID, login name, and password that must be included as part of each data packet sent to the gateway. In addition, an IP filtering scheme is used to ensure that transaction packets are only received and processed if the IP address of the computer system sending the transaction fits into the IP address range specified in the merchant -s security profile. Shopping Carts / Integration Documents At your request, we will email the necessary Gateway documentation and API information required either by your shopping cart provider or e-commerce developer. For an Interactive Gateway Demo, click here:

Check Verification

With SpeedChex Express Verify™ merchants can now determine - in virtually real time - whether a customer account is open or valid. Now that’s cash in your bank. SpeedChex Express Verify™ is a system that goes beyond check verification. This system has access to the largest source of account information in the world. This is the most powerful, accurate, and robust verification system available.

SpeedChex Express Verify™ Benefits

·         Fast growing network: Currently works with national banks and regional banks. Soon to include regional banks, single branch banks, and credit unions.   ·         Quickly learn an account exists, has positive funds, or a check has stop payment.  ·         SpeckChex uses information from bottom of customer’s check. No pin numbers.   ·         Process with customer present, not present, retail, mail, telephone, fax, Internet.   ·         Takes 3 to 6 seconds response time.   ·         We support dial-up, frame relay, Internet and VPN.   ·         Easy to start up and simple to use.   ·         Service charge based per transaction with no monthly minimum*.   ·         Per transaction price varies based on the average number of transactions your company runs each month.

 

FAQ

How do I know a sale has occurred by using the Internet? Check the ACH Software Application at your home/business computer with the drop-down menu from Reports Button Reports/ Funding/ Settlement Detail or use Virtual Terminal.   How is a rejected transaction handled? Several times during the day, settlement details are posted to your account and are viewable on your home/business computer. The Settlement Detail lists all rejected items. An example of a rejected transaction is a NSF (Non-Sufficient Funds) check.   The report contains all the information necessary to identify the returns so that you can decide whether to "run" the transaction again or contact the Consumer directly to follow-up with the sale.   What is the maximum dollar amount allowed per sale? Limits are independently established for each merchant.   Can consumers "charge back" purchases? Cleared Funds: Within 60 days after purchase, our bank will automatically credit consumer's account if transaction is disputed or repudiated.   Will my bank charge me a fee for Online Check deposits? No. If it does, then switch your account to another bank.   How soon can I begin accepting Online Checks? You can start accepting Online Checks the day after we approve your completed application and Bank Agreement. The typical approval time is 4 to 8 days.   Will my Customer be returned to my site after the purchase? YES! You simply supply us with the exact location page (www.mysite.com/mystore/store.htm) or you can customize your own secure purchasing page. It's totally up to you.     How are funds deposited into my account? We deposit all funds into your existing bank account via the ACH Banking System.     When are funds deposited into my account? Your funds will be deposited into your checking account within 48-72 hours of the online transaction not including weekends and holidays. We utilize the NACHA electronic network that transfers and clears funds between banking institutions on behalf of online merchants and their customers.   Each transaction takes approximately 48 hours to clear. We strongly suggest that merchants wait five days from the initial transaction date before shipping any goods to insure that the payment has cleared.   How will I be billed for the Online Check service? Your checking account is debited the 1st of each month. An invoice is mailed with an electronic debit within 8-10 days.   Will Online Checks work with my current Shopping Cart? Yes. You can use our Integration Guide and software even if you do not have a shopping cart on your site. If you choose, we can provide you with a Payments Gateway.   Is it legal? YES. Web entries are transactions subject to the requirements of the NACHA Operating Rules, the Electronic Fund Transfer Act and Regulation E, as promulgated by the Federal Reserve Board.   Web authorized entries are defined as a debit entry to a Consumer Account initiated by an Online Merchant pursuant to an authorization that is obtained from the Consumer via the Internet.     Is there a minimum transaction volume or a minimum amount of transactions required per month? There is NO minimum transaction volume and NO minimum number of transactions are required per month.   Are electronic funds transactions (transfers) processed before regular paper checks? Yes. The Automated Clearing House (ACH) processes deposits first, then electronic funds transfers (EFT), and then paper checks last. Consequently, fewer EFT's result in non-sufficient funds than with paper checks.   What percent of the American population has credit cards versus checking accounts? 94% of people have a checking account, however, only about 50 % of American adults have a credit card. What is even more interesting is that half of those with a credit card have already reached their credit limit. For this reason, accepting checks over the phone and over the internet can increase your market potential dramatically.   Can we use our current point-of-sale (or practice management) software in conjunction with your services without duplicating our efforts? Typically yes. In most cases our software can be integrated with your current software resulting in a seamless link and avoiding double entry.   Can we download from our computer into your computer the information needed to electronically transfer large numbers of transactions? Absolutely! All that is required is that your data stream be in a specific format which our software can import. Even if your current software can't export per our specifications, we can assist with a link that will convert your data stream to meet our import requirements.   What are the drawbacks with accepting checks? Anytime a merchant accepts a check there is a certain amount of risk associated with whether the check will "clear" or not.   For this reason, it might make financial sense for some merchants to use either check verification, or check guarantee services to minimize this risk. A few issues to consider are your current "bad debt write-off", number of out-of-state checks, dollar amount of your average check.   Will the customer's checking account be secure? Yes. By law, financial institutions regard customer information as highly confidential. In comparison, traditional paper check is handled by many people in the payment process before it ever gets to the bank.   What does it cost? Transaction fees for processing checks are typically less than processing credit card transactions.   Is it difficult to get started? Not at all. We make it easy to get started. We can get you up and running quickly and we accept a variety of electronic files so it's also simple to administrate.   How quickly will I receive my funds? Funds can be electronically transferred to your account in as little as 48 hours.   How can I reduce the number of items returned for invalid accounts and insufficient funds? ATMVerify can help eliminate returned items by verifying if checks are drawn on closed or overdrawn accounts and if inaccurate ABA routing or account numbers are provided.   Can check payments by phone or fax be guaranteed? Unfortunately, Checks By Phone or fax can not be guaranteed at this time.   What can I do about collecting items that have been returned NSF? Items that are returned NSF can be re-presented for payment. Merchant Advisors can manage this process for you if you desire.   Why is there so much paper work required? The documentation that we request is used to establish and verify the identity and the credit worthiness of the business or individual applying for the ACH account. We are extending you credit for every transaction