Accepting Checks Online

Historically, accepting payment via checks online has been a risk unless you waited for the check to clear before the goods were shipped. Although this reduced your risk it did not provide for good customer service and also lead to additioanal administration, tracking and handling costs. With the new technology and service prividers you can have online check acceptance where the checks are prescreened to ensure the buyer has the funds in their account to cover the check. Although there is still an opportunity for the buyer to place a stop payment on the check after you have authorized it as well as a small window under the banking rules to chargeback a check, it is nevertheless greatly lower risk and greater protection than before. Additionally, for slightly higer fees, there are some providers who will gaurantee that the check is good and make payment if it ultimately is not. Other providers, while not guaranteeing payment will provide collection services free of charge.

With the new technology and services accepting checks online should be part of every offering to your customer.

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