Online Electronic Check (OEC) allows online merchants to add electronic
check acceptance to their payment options on their website.
Features and Benefits:
- Expands customer base to include those without
credit cards (or those without available limit on their credit cards)
- Provides customers an additional payment option
- Provides customers an easy-to-use format (the
interface is designed to look like a regular check)
- Bank routing numbers are verified immediately to
insure financial institution exists
- A receipt is generated and a copy is e-mailed to
the check writer
- Transactions are settled in 48 hours if
processed before 12:00 a.m. PST
- The system automatically debits the consumers
account and credits the merchants account electronically
- Merchant is notified if the account numbers are
entered incorrectly
- Merchant is notified if the account has
non-sufficient funds (NSF)
- Merchant does not incur return fees from their
bank for NSF checks
- Attempts are made to collect NSF checks
automatically and electronically at no cost to the merchant
- Merchants have access to complete online
reporting
- Merchants are not required to process a minimum
number of checks or a minimum dollar amount of transactions per month
- CHEXpedite OEC encrypts data using SSL encryption technology and
transmits data to a secure server for posting
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