Customers want payment options so merchants need to accept and process checks. Paper checks create a number of extra steps for the merchant and can be a cost burden: they represent higher risk for fraud; they need to be verified, reconciled and physically taken to a bank for deposit, and processed. In addition to waiting several days for funds, merchants have to pay various fees to their banks for processing.

The SpeedChek® electronic check verification service is one of the industry's most sophisticated check verification systems. It gives you the confidence to accept more checks, while reducing bank fees and processing costs. You will see an improvement in cash flow with faster funding utilizing the SpeedChek electronic check Verification service. And with electronic check processing, you return the check to the consumer helping to protect your customer's personal information.

How It Works

After a customer gives you a paper check, SpeedChek uses leading risk assessment technology and extensive check writer negative and activity databases to evaluate the risk of accepting a check. If the check meets the verification requirements, the SpeedChek electronic check verification service converts the paper check into an electronic transaction at the point-of-sale. The Automated Clearing House (ACH) network is used to process the transaction and funds are deposited directly into your bank account generally in two business days.

Help Your Business

Make fewer trips to the bank

Reduce bank fees and processing costs

Improve cash flow and operational efficiencies

Streamline back office operations

Reduce the risk of lost, stolen or damaged checks

Protect your customer’s personal information

Help Your Customers

Reduce the likelihood of identity theft

Manage record keeping and easily balance their checking account

Select the payment that they prefer to use