Check Conversion with Guarantee
For face-to-face transactions, Check Conversion with Guarantee enables merchants to process checks electronically……..
just like a credit card.Check Conversion For Face-to-Face Transactions where customer is present environment.with Guarantee:The check is verified by screening it through several databases and fraud detection systems.
Once the check passes a sophisticated risk assessment it is authorized at the point of sale. The funds are then electronically deposited into the merchant’s bank account in 2-3 business days.
Eliminates the risk of accepting checks. Guarantee is limited to: Personal and Business/Doing Business As (DBA) Checks.
Funding Time:Funds are deposited directly to the merchant bank account within 48 -72 hours.Stop Payment Premium:Stop Payment is offered to the Auto Repair, Motorcycle Repair, Motor Home Repair, paint and Body Shops, Transmission Repair and Auto Glass Install/Repair. Must complete the Stop Payment Addendum.
Additional $.25 basis points charged.Note: Non-Guarantee: .10% (10 basis points) additional premium charged to Merchant for checks $10,000 and higher.
