CHEXpedite™ Recurring ACH Payments
Frequently Asked Questions:
1. How long does it take for CHEXpedite™ ACH transactions to clear?
Transactions are settled and credited to the merchant’s account within 24-48 hours.
2. What kind of reporting is available?
Real-Time reporting is available to CHEXpedite™ merchants any time via the Internet. These reports will facilitate the merchant’s bank statement reconciliation. All reports can be customized by date range, and include the following data: · Deposits · Fees · Item Charge-Backs · Reasons for Return · Collection Status Daily, Weekly, and Monthly reports are available.
3. What is the average time frame for an ACH Application to be approved?
Two to Three Weeks.
4. How are the merchant and consumer protected against fraud?
CHEXpedite™ ACH has a number of safety features built in. The system uses the latest in SSL technology to encrypt the consumer’s data prior to transmission to prevent “high jacking” and use by a defrauder. For the merchant, there are safety features included in CHEXpedite™ ACH that assist in the authentication of the consumer and provide confidential information trails that could lead a merchant to a fraud perpetrator.
5. What are the benefits of electronic transactions compared to paper checks?
Because banks process electronic items before paper items, CHEXpedite™ transactions receive preferential treatment at receiving banks. Additionally, CHEXpedite™ transmits online payments in a secure, automated fashion compared to the manual, labor-intensive nature of paper draft systems.
6. What happens if someone commits a fraudulent ACH transaction against an innocent consumer?
If the defrauded consumer reports the fraudulent transaction to the bank, the bank will advise the defrauded consumer that an Affidavit will need to be signed. The Affidavit will indicate that the transaction was not authorized and the defrauded consumer’s money will be restored in the account. Next, the transaction will be returned as an R10- “Consumer Advises Not Authorized”- to the merchant’s bank or third party processor’s bank. The original merchant is charged back the amount of the transaction and would be required to pursue legal recourse against the consumer if the transaction has, in fact, been properly authorized.
7. Can a client in a foreign country use CHEXpedite™ ACH?
As long as the funds are drawn on a US Federal Reserve member bank, we can accept the transaction.
8. What service does the $15.00 Monthly Administrative Fee include?
- Merchant Help Desk (24 Hour)
- Origination of 2nd and 3rd presentment of NSF items
- Funds verified before 3rd presentment
- NSF return fees incurred by our processor
- Batch processing/handling fees
- Merchant Billing
9. Is there a minimum number of ACH transactions required?
There are no minimum volume requirements.
10. How does the merchant gain access to the CHEXpedite™- AP Batch System?
Service is accessed through the “Automated Payments” service menu on the CHEXpedite.net website. This can be found at the following URL: http://www.chexpedite.net/automated/login.htm
11. If the merchant is using CHEXpedite™ AP Batch Product for their recurring customers, will NBDS warehouse (store) the merchant’s data and re-send the files for processing on a predetermined basis?
No. The merchant needs to send a file each time they want a file processed (daily, weekly, monthly, etc.) Our processing center does not store the merchant’s data or make any changes to their files.