How eCheckpay Works?
An eCheck payment is a secure way for a customer to make a payment through your business. It works through a direct deposit method in which a merchant's bank initiates the process. Once the merchant bank has the customer's information, it sends it to an ACH operator, who sorts and validates the funds. After verifying the funds, the RDFI debits the customer's account and credits your business account.
Unlike credit card payments, eChecks are processed faster. Merchants pay less for processing eCheckpay, making it a popular choice for high-cost items and monthly fees. The process takes up to seven days and reduces the need for credit card terminals. Businesses can even offer their customers the convenience of autopay and renewal without a credit card. EChecks are a smart choice for businesses that have a subscription-based business model.
Adding a bank account is easy. Just click on the "Make a Payment" link on the bottom-right of the page and enter the bank account holder's name. You can also save your credit or debit card to a separate account. Make sure to enter the correct information before you click the "Make a Payment" button. You can also add a new bank account holder's name from the "Edit details" box.
After the authorization, the funds in your account will be verified. If there are insufficient funds in your account, your eCheck will bounce. If your eCheck bounces, contact the business to inquire about any fees or penalties. Then, set up an alternate method for future payments. If you choose to use an eCheck payment, you can expect a faster turnaround time. So, why not take the time to sign up for eCheckpay?
