How to Process High Risk eChecks?

Most of the people might have thought about the ways to attain the processing of higher risk checks. Most of the customers use E checks and is an immensely popular option. The owners who do businesses which are of higher risks will make an increase in the sales by giving this option to the clients.

Earlier, there were business men who relied on their ACH box to get the higher risk checks processed. The system was very slow but dependable. It enabled the merchants to get the clearance of the transactions that were done through electronic means in batches. But they were not used for the clearance of higher risk checks. This particular network is operated by the rules of NACHA. It is not at all friendly for the merchant who does businesses with higher risks. This system is usually termed as long, intricate and extremely difficult to get grasped.

The particular network was not a widely used one as insurance firms and other utility companies are concerned. The companies had to hire an expert in order to have a clear perceptive of the rules. The bad news for the merchants is that these rules have got tightened for some years. These tightened rules make the application of the processing of higher risk checks almost impractical with the help of the ACH network. 

The businessmen who run businesses which are of the conventional kind are also facing hardships with regard to the rules of the NACHA. They do not have the facility of third party ACH processors and they lose their in recent times. If you are not able to receive payments with the help of electronic checks, you should get ready face the harsh truth of competition.

Nowadays, a new technology has been brought forth to receive the payments that are made electronically. The technology is totally free from other ACH networks. The new solution has a much improved processing method which enables the customer to get the maximum advantage. Since the advent of this new technology, the transactions that are done through electronic means do not have to undergo the procedures of ACH network. As in the case of ACH network, the merchants will not have to wait for about four days to get the clearance of the transaction and about seven days to get the funds transferred.

In the new technology, the checks get cleared and transferred from one bank to another. As there is no presence of any of the middlemen, the check gets cleared in one working day. The funds get transferred to the account on the same day.

As the checks get clearance very fast, the risk of the NSF is reduced. One will be able to get the frauds detected immediately and the charge backs get decreased considerably. It will help you to save a good amount of money and enables to make the business operations run smoothly.

With the advent of the new technology, the merchant becomes the complete owner of the deposits and account. The merchant will get the entire control of the cash and the flow of funds. 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.