ACH/Check Conversion Services – Electronic check processing and conversion service

ACH/Check Conversion Services enable companies to process consumer checks received as payments. This Internet-based service uses a check scanner and company portal to capture both MICR information and a digital image of each check. Once the dollar amount is entered and account information is verified through a real-time gateway, the payment is processed as an electronic funds transfer (EFT) and is securely passed through the Federal Reserve’s ACH network, the same secure and reliable network commonly used for direct deposit of payroll funds. Funds are withdrawn from consumer accounts the next business day and deposited into the business’ accounts within one to three business days. ACH/Check Conversion Services eliminate many of the processing costs and inherent risks associated with processing paper checks, and saves time by reducing the number of over-the-counter deposits.