The paper check continues to be the non-cash payment method consumers use most. Checks can also present a risk, but limiting check acceptance is not a viable choice because it limits sales. SecurChex is the answer. SecurChex provides a quality solution in today's retail environment.
• Collections (RCK)
• ECC (Electronic Check Conversion)
• Protection from fraudulent and bad checks
• Eliminate check-related loss and expense
• Easy and convenient to use
• Guarantee payments for checks
Put EMG's check services to work for you. We're continually researching ways to ensure that you'll be provided with the most advanced screening and recovery assistance available. You'll have the confidence to accept customer checks and the peace of mind of knowing you'll collect. EMG has three systems that can protect your business from bad check losses. They can all be integrated into EMG's merchant services and are easy to use.
1. Check Verification: EMG's verification network gives you access to one of the most complete and accurate check verification systems anywhere. Employees can match checks accepted at the point-of-sale from a fraudulent check database containing over 10 million records, giving you the screening information and power to accept or reject check payments.
2. Electronic Check Representment: If a fraudulent check is accepted, EMG can automatically "re-present" it to the writer's bank and collect what is owed to you. Our proprietary electronic check representment system allows us to automatically debit the customer's account for the amount owed and deposit it to your account.
3. Electronic Check Conversion (ECC): Electronic Check Conversion is a unique conversion and guarantee service that assures you'll receive payment from a customer's check. This program allows you to convert check payments into Electronic Funds Transfer (EFT) transactions that draft the check amount from your customer's bank account. The system turns paper checks into electronic debit transactions that you receive within a few days.
The EMG Check Service Difference
• Verification service is low-cost.
• Check database contains over 10 million check records.
• Representment system recovers the highest percentage possible.
• Hassle-free check submission.
• Check conversion guarantees payment for every check accepted.
• Enhanced Verification: The check is verified against a national negative database and security parameters that increase the merchant’s protection.
• Enhanced Settlement: The check is converted to an electronic ACH transaction and electronically deposited directly to the merchant’s account.
• Enhanced Recovery: The funds are guaranteed and no recovery is necessary for the merchant. SecurChex pays the merchant for the full amount of returned items.
SecurChex Advantage Savings: Average of $4,104.00
| Traditional Check Processing Cost |
| Deposit Fee |
$ .10 |
| NSF/Return Fee |
$ .20 |
| Check Handling |
$ .33 |
| Bank Deposits |
$ .03 |
| Bad Debt Write–Off |
$2.42 |
| |
|
| CHECK COST: |
$3.09 |
| EST. ANNUAL COST: |
$7,416 |
|
| SecurChex Check Guarantee Service |
| Transaction Fee |
$ .25 |
| Discount Rate |
1.45% |
| Check Handling |
$ .33 |
| |
|
| CHECK COST: |
$1.38 |
| EST. ANNUAL COST |
$3,312 |
|
* Based on check acceptance rate of 200 checks per month at an average of $55.00 and 4% return rate.
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