Site Last Updated 05/16/2012
The Press Room
How Electronic Check Conversion saves you Money
August 04, 2009
If you are a business owner that accepts paper checks without electronic check conversion there is no doubt that you have had the unpleasant experience of receiving a bounced check. If you were able to recoup your loss, it no doubt cost you a lot of time and frustration. More often than not, however, you probably weren't able to collect and had to write off the loss.
If you are a business owner that accepts paper checks without electronic check conversion there is no doubt that you have had the unpleasant experience of receiving a bounced check. If you were able to recoup your loss, it no doubt cost you a lot of time and frustration. More often than not, however, you probably weren't able to collect and had to write off the loss. For larges business this loss may be hundreds of thousands of dollars, but for the smaller business even a few thousand or even a few hundred dollars a year can be painful.
Electronic check conversion can virtually eliminate that loss from your business. When a customer presents a check you simply run it through a scanner and hand it back to the customer. The check is processed electronically through the ACH check processing system and once approved the funds move right into your account just like a credit card transaction. Imagine never having to track down another bad check writer and all the money that would save each year.
Not having bounced checks isn't the only way that electronic check conversion saves you money, though. The savings that come from not having to gather all the checks, enter each amount onto the deposit slip and add up the total then drive to the bank each day to make a deposit have to be taken into consideration. There is a considerable savings in both time and money that is involved.
Electronic check conversion is generally less expensive than credit card transactions, as much as 50% less expensive in some cases, and that is yet another way it saves you money. Plus, giving customers more options means greater customer satisfaction so they will shop with you more often and spend more money with you which means electronic check conversion not only helps save you money, it helps you make more money as well.
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I am writing to thank you for your service and assistance in saving my business. I was absolutely impressed with the professionalism you displayed was as pain free as possible for me More...
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I am writing to thank you for your service and assistance in saving my business. I was absolutely impressed with the professionalism you displayed was as pain free as possible for me More...
