Check ProcessingIf you’re looking to accept checks, but don’t want to assume the high risks that go along with it, PREFERRED Merchants can offer your business the ability to set up a check processing account that allows you to authorize a check within seconds without the need for expensive equipment.
Unlike many of the programs offered through other payment solutions providers, the PREFERRED Check Solutions program provides a complete line of payment processing options to fit any business type or need. Our commitment to product excellence goes way beyond that of any other competitor. With capabilities and access to programs other companies can only dream about, our clients are provided with leading edge technology backed by maximum flexibility, enabling us to provide a total custom solution for your particular business. Our programs are far more advanced and flexible than any other provider and will work with almost any terminal and credit card platforms. Along with every account, your business with be provided all of the most advanced reporting and tracking tools available. Here are just some of the features we provide:
For more information about the programs we offer, click on the service below or contact us directly.
To learn more about our check processing programs, contact us today. Recurring & Pay by PhoneNEVER FEAR BAD CHECKS AGAIN!! Now your business can accept checks the same way you take credit and debit cards. With Check Conversion, all checks are electronically ACH deposited directly to your bank account. With the addition of the optional Check Guarantee, your checks are insured against bounced checks and stopped payments.
RECURRING ACH or ONE-TIME ACH DEBITS Both options allow your business to process electronic check transactions with the same ease as running a credit card transaction. As with all PREFERRED Merchants services and products, our low rates make check processing more cost effective for your business and will improve your overall bottom line. Regardless of your need, you’ll find the right solution at the best prices here. If you’re being offered lower rates by someone else, you should bring the offer to us for review. Don’t be fooled by the false promises of lower rates from those other guys. At PREFERRED Merchants, our name is your guarantee. To begin accepting checks safely, simply complete our online application or contact us directly. Guarantee & ConversionNever fear bad checks again!! Checks are guaranteed & deposited electronically into your account!
Processing electronic check transactions is as easy as running a credit card transaction. The check is scanned through a check reader and you input the prompted information and sale amount. If the transaction is approved, a duplicate receipt will print and consumer completes and signs the receipt. The check is stamped "ACH Processed" and handed back to the customer with the receipt. MOBILE CHECK PROCESSING As with all PREFERRED Merchants services and products, our low rates make check processing more cost effective for your business and will improve your overall bottom line. Regardless of your need, you’ll find the right solution at the best prices here. If you’re being offered lower rates by someone else, you should bring the offer to us for review. Don’t be fooled by the false promises of lower rates from those other guys. At PREFERRED Merchants, our name is your guarantee. To begin accepting checks safely, simply complete our online application or contact us directly. Check21THE NEW AGE OF CHECK PROCESSING IS HERE!
CHEAPER THAN TAKING CREDIT CARDS! The Check 21 program allows electronic images of checks, which is faster and more efficient than physically transporting paper checks. All banks, consumers and businesses are affected by this law even if they do nothing to change their current check processing systems. All checks types, except foreign, are eligible to become substitute checks. This list includes, but is not limited to, the following:
The Check 21 program is a fast, safe and low-cost option for processing check payments. Check 21 transactions are cleared using images exchanged between banks, rather than the old ACH network system. Check 21 can be a very attractive option for merchants who find themselves subject to the restrictive ACH rules regarding chargebacks and returns. Because Check 21 processing is governed by check laws, and the Uniform Commercial Code, instead of NACHA regulations, a merchants risk from contingent liabilities is significantly reduced. For example, under NACHA rules, consumers have 60 days from the date they learn of a questionable transaction to dispute it. With Check 21, consumers have only 40 days to dispute a transaction. Some of the benefits of Check 21 include faster settlement of check payments, saves banking time, later submission times (as late as 8pm EST), lower risk of fraud, better reporting options, faster handling of “bad checks”. Check 21 transactions will also appear on bank statements in the same place as a paper checks. This allows merchants to display more details on the bank statement (not allowed with ACH transactions), making it easy for buyers to remember what was purchased. This reduces chargeback risk. Check 21 is also effective in converting paper checks to electronic images for clearing and settlement in a process known as “remote deposit capture”. With remote deposit capture merchants, they scan paper checks and then submit the scanned images as electronic transactions. Once images are submitted electronically, they do not need to deposit paper checks in the bank. All Check 21 transactions clear through the Federal Reserve Banking system. Check 21 payment processing permits a wide of check types to be converted to electronic transactions, including checks from institutions that do not participate in the ACH network. Institutions such as credit unions, savings & loans, small banks, brokerages, and checks drawn on credit card accounts are able to participate in the Check 21 system. As with all PREFERRED Merchants services and products, our low rates make check processing more cost effective for your business and will improve your overall bottom line. Regardless of your need, you’ll find the right solution at the best prices here. If you’re being offered lower rates by someone else, you should bring the offer to us for review. Don’t be fooled by the false promises of lower rates from those other guys. At PREFERRED Merchants, our name is your guarantee. To begin accepting checks safely, simply complete our online application or contact us directly. ACHThe automated clearinghouse (ACH) is a nationwide system that processes electronic batches of credit and debit transfers. This enables funds to be debited from a customer’s bank account and deposited into a merchant’s account.
NACHA (National Automated Clearing House Association) has developed a number of operating rules and business practices for the Automated Clearing House (ACH) Network and for electronic payments. All ACH products offered through PREFERRED Merchants comply with NACHA regulations. The ACH Transaction Flow |
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As with all PREFERRED Merchants products and services, we are committed to bringing our clients the absolute strongest, most flexible and cost effective programs available, so while other companies are saying NO to your check processing needs, our experience, innovation and technology allows us to say Yes!
CHECK-BY-PHONE 
Now your business can accept checks the same way you take credit and debit cards. With Check Conversion, all checks are electronically ACH deposited directly to your bank account. With the addition of the optional Check Guarantee, your checks are insured against bounced checks and stopped payments. 
The Federal Reserve Banks are the nation’s largest automated clearinghouse operators and process over 80 % of all commercial inter-bank ACH transactions. According to NACHA (National Automated Clearing House Association) in 2004 there were more than 12 billion ACH transactions totaling more than $28.7 trillion. 