Providing High Risk Merchant Account Services and Offshore Merchant Account Solutions.

High Risk Check Processing

High Risk Check Processing

How to obtain a “High Risk Check Processing” account is the question on many people’s minds. To get it, you should think out of the ACH box.

E–Checks are one of the very popular alternatives of today that is widely used by customers of all kinds. The owners of “High Risk Businesses” will be able to simply increase their sales by providing this option to their customers.

Previously, business owners depended on the “ACH box” to process their high risk checks. It was a slow but reliable system that cleared such electronic transactions, in batches. However, it was never ever designed to process high risk checks.

The network is bound by the operating rules of the NACHA. These rules were never friendly for the “High Risk Merchants”. The rules are very complex, long and extremely hard to digest.

The network was hardly used by any of the companies other than insurance or utility companies. Just to get a clear understanding of the rules an expert had to be hired. The bad news is these rules have significantly tightened in the last few years, which makes “High Risk Check Processing” impossible using the “ACH Network”.

The conventional and old businesses are also facing difficulty to comply with the present rules of NACHA. There are also no “third party ACH processors” because they all ran out of business, recently.

However, if your business is not capable of accepting payments through electronic checks, then be ready to get stumped due to the competition.

Now there is a new technology which is developed to accept e - check payments. This solution is free from the “ACH network”. It has much better processing methods which give you significant benefits.

With this new solution, the e – check transactions don’t have to pass through the “ACH Network”, though it is still cleared by the Federal Reserve. However, you don’t have to wait up to 4 days for the transaction to get cleared and seven days for the transfer of funds.

Now, the checks are being cleared by a bank – to – bank transfer. Due to the absence of any middlemen, the checks are cleared within 1 working day. The funds are also credited to your business account in the same day.

Since the checks are cleared much faster, the NSF risk is decreased. Fraud will be detected quickly. Charge backs are reduced drastically. It saves you a lot of money and stream lines your business operations.

With this solution you are the owner of the depository account. Therefore, you have complete control of your funds and a free flow of capital.

The additional advantage is that, there are no reserves. Therefore, unlike the ACH processor’s there is no hold back of your funds. The old fashioned method needed to have reserves as the “ACH Processors” were middlemen and therefore they had to keep a reserve to decrease their risk. The reserve funds were entirely lost when the processors either got bankrupt or decided not to give it back.

Contact one of our helpful account representatives to assist you in the setup of a high risk merchant account or offshore merchant account for a high risk merchant.

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