© 2023 by Lucrative Merchants, LLC.

E-CHECK
PROCESSING

Process Checks By Phone & Online


Electronic check processing means that you can convert a paper check received from a customer into an electronic transfer, which often times is referred to as an e-check. This electronic transfer takes the funds from your customer's account and then places them into your business bank account. You may have seen this sort of transaction within your checking statement. Taking payment from your customer in the form of an eCheck takes place via the Federal Reserve Bank's ACH system.

It is a faster, less-expensive way for you to get your money.

Lucrative Merchants can provide you with a secure gateway to create and process Electronic Checks, send Email Invoices, and even Accept Payments Online (or into your current systems via API).


Get SAME DAY and NEXT DAY deposits of your transactions at All Banks in the continental United States.

Below we go into more depth about the legalities of Electronic Checks and the many benefits of utilizing them.

What is the
ACH Network?

The ACH Network moves money from one entity to another electronically.

The process is governed by NACHA, The National Automated Clearing House Association (nacha.org) , operating rules and business processes.

The Automated Clearing House (ACH) Network is a highly reliable and efficient nationwide batch-oriented electronic funds transfer system which provide for the interbank clearing of electronic payments for participating depository financial institutions.

The Federal Reserve and Electronic Payments Network act as ACH Operators, central clearing facilities through which financial institutions transmit or receive ACH entries.

Types of
ACH Transactions
  • Direct Deposit of payroll, Social Security and other government benefits, and tax refunds.

  • Direct Payment of consumer bills such as loans, utility bills and insurance premiums

  • Business-to-business payments

  • Electronic Checks (E-Checks)

  • E-Commerce Payments

  • Federal, State, and Local Tax Payments.

If you're getting your paycheck directly deposited into your bank account, you're already using the ACH network. You can leverage this system for your business so that you never need to go to the bank again you can process checks electronically from your computer.

More on
How it Works...

Electronic Check processing is simply the process of taking a paper check and submitting it for payment electronically instead of taking it to the bank. 

 

Your bank may offer you this capability if you purchase a check scanner from them. The scanner takes an image of the check and submits that image to the bank electronically. The bank then processes that check just as if you had handed over the physical check itself.
 

An easier way to process checks electronically is to use a software program or a web-based payment processing service, this is where Lucrative Merchants can be of service. When using a web-based system or ASP, you don't need to install any software or buy any hardware. You simply key in check information and submit the transaction.
 

It is important to feel comfortable with the switch to new technology, especially when there is money involved. Our representatives are here to support you in the transition to a more productive, efficient, and lucrative solution.

E-Check
in your Business
  • Implementing electronic check processing involves choosing a processor and changing your businesses processes to conform to rules for electronic check processing:
     

  • 1. Notify: You must notify your customers that their paper checks will be processed electronically. You can do this in writing on your invoices, or by posting a sign at your place of business.
     

  • 2. Collect and Convert: The paper check is converted to a one-time ACH-based electronic payment, with the customer's bank routing number and account number captured. You then make a copy of the check for your file, stamp the original check "VOID" and discard it.
     

  • 3. Process: An ACH file for the check is created and presented to your bank-this is typically done by the payment processing company; the payments are processed through the ACH network, the customer's account is debited, and your account is credited. The payment is documented on a customer's bank statement with the check number, amount, and the billing company name 

Ask one of our Account Specialists


Need a Merchant Application?
Want to ask something specific about
E-Check?


Our Account Specialists are ready to help you.
Fill out the form below.