How it Works
How does our eCheck Processing Service Work?
eCheck Processing begins when your website sends your customer to a shopping cart checkout page, a pay page, or your telephone number. Next, check details are captured for payment. These details include routing number and account number. Now, this payment and its approval are captured in a virtual terminal you may see yourself.
As all of this happens, we here at eCheckProcessing are notified each day of your payments received via eCheck. We daily create paper checks remotely from the checking details. Next we travel to your bank and deposit those checks directly into your banking account.
After deposit, the funds become available when the check is cleared in your own bank and by your own bank.
Please note that while Credit Card companies have chargeback processes that are very favorable to customers, the way a check writer does the same thing is by stopping payment. Typically, stop payments must be done within 48 hours after a check has been deposited.
Chargebacks and stop payments are quite different. One way they are different is that Credit Card users usually have 6 months to do a chargeback. Check writer would have to sue in small claims court if the time has passed to do a stop payment.
* In light of the above, the best practice for a merchant is to hold off on shipping any goods until after the eCheck has been deposited and cleared in the merchant’s bank. This way the merchant avoids losing product when a customer has misjudged the available checking account funds.