TeleCheck Electronic Check Acceptance® (ECA®) Verification

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 TeleCheck® ECA® 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 TeleCheck ECA Verification service. And with electronic check processing, you return the check to the consumer helping to protect your customer's personal information.

The TeleCheck ECA Verification service screens checks against information from hundreds of thousands of businesses and financial institutions, minimizing the risks associated with check acceptance.

How It Works

After a customer gives you a paper check, TeleCheck 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 TeleCheck ECA 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

• Point-of-sale check conversion
• Faster funding and simpler reconciliation
• Access to extensive negative and activity databases for current check writer information