Get Faster Access to Funds, Minimize Risk and Reduce Costs.
If you're like most merchants, check acceptance is a necessary, but burdensome part part of conducting business. Now, thanks to National Transaction's Electronic Check Service (ECS), you can continue offering your customers the option of paying by check, while dramatically the risk and cost associated with accepting those checks. ECS converts all paper checks - consumer and business - into safe, efficient electronic transactions. By submitting checks through the same system that you use to authorize credit cards, you can significantly lower costs and enrich your cash flow.
The costs of accepting, processing and handling paper checks, are extremely high, ranging from $0.75 - $3.00 and averaging $1.22 per check according to Visa. Converting paper checks to electronic transactions eliminates many of the risks and costs, adding money to your bottom line.
Benefits At a Glance.
ECS is a smart savings solution. It saves the time, money and hassles associated with accepting checks.
1. Faster Access to Funds
Checks are Automatically converted to electronic transactions. Funds settle with the same speed and ease as credit cards, typically within 24-48 hours.
2. Reduced Costs
Eliminates the time, labor and paperwork associated with paper checks and returned items.
3. Single Depository Bank Relationship
All check funds are deposited into a specified DDA account, eliminating the need to have multiple banking relationships based on store footprint.
4. Minimized Risk
Authorization and guarantee services reduce the risk of returned checks. With ECS, transactions that result in non-sufficient funds will be automatically re-submitted up to two times.
5. Improved Reporting
All electronic payment activity is consolidated on reports and statements and is available online.
Flexible Service Options.
With ECS, you have a choice of flexible service levels to chose from, specifically matched to meet your business needs.
1. Conversion w/Guarantee
-- Guarantees the funds and converts the check to an electronic transaction.
-- Merchant shifts the risk of returned items to the guarantor.
2. Conversion w/Verification
-- Verifies that the check is currently "good" & converts the check to an electronic transaction.
-- Merchants retains the risk of returned items.
3. Conversion w/Verification and Collections
-- Offers the advantage of Conversion with Verification and utilizes a third party provider for collection efforts.
-- Merchant retains the risk of returned items.
No More Hassles
With ECS, accepting checks has never been so convenient. Utilizing our Conversion with Guarantee service, once the check is imaged, you never have to touch it again. Gone are manual check reconciliations, deposit preparation, time-consuming trips to the bank, and returned items. It's that easy.
How Electronic Check Service Works.
ECS supports real-time processing for point-of-purchase and accounts receivable conversion processing environments.
Presents check, signs receipt, and gets chack back OR Mails check or puts into dropbox.
Swipes check through imaging device which converts it to an electronic transaction, like a credit or debit.
3. National Transaction:
Processes the transaction just like a credit card. Automatically uploads batch and check images. Manages funding to merchant.
Receives funds as fast as credit card, transactions, typically within 24-48 hours.
National Transaction Corporation
Services, Dynamic Currency Conversion
Get your money faster.
Make deposits without leaving your chair.
No time spent in line at the bank.
Guarantee the availability of funds before you deposit.
National Transaction Corporation was founded in 1997 to help businesses of all sizes with their cash flow. The goal was to make any transaction as effective and efficient as possible.
The mission was to make digital transactions reliable and simple to the merchant and familiar to the consumer, reducing the complexity and expense to both.