eCheck Payment Processing

With electronic payment processing, traditional forms of payment, like paper checks, often fail to meet the needs of companies and consumers alike. Electronic checks, or eChecks, are a way to usher your company into the future. This type of electronic payment processing offers a fast, secure and easy-to-use method that improves the payment experience for you and your customers.

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Benefits of Leveraging an eCheck Payment Processor

Using an eCheck payment processing system offers various benefits for your business. With eCheck processing, you can:

Save money

Processing physical checks requires extensive administrative costs that add up over time. When customers pay with an electronic check, you don’t have to spend money on tracking check payments or cashing them every week.

Increase security

Check fraud is a risk that many businesses face when they accept physical checks. With eCheck processing, you enjoy greater ease in the payment process with built-in security measures through your processing provider. At CSG Forte, our system uses end-to-end encryption and tokenization to protect sensitive data.

Receive payments faster

Handling physical checks requires mobile or physical check deposits, signatures and recordkeeping that can take hours to complete when you’re receiving hundreds of checks each week. When using eChecks, you receive your payment within a few days without the extra responsibilities and the time it takes to complete them.

Improve the customer experience

Writing out a check can be just as time-consuming for a customer as processing is on your end. With an electronic check payment processing gateway, a customer saves time and enjoys convenience that they’ll associate with your company moving forward.

Reduce Chargebacks

The ACH upholds strict processes and requirements, making it more challenging for customers to dispute payments or initiate chargebacks compared to some credit card networks. By pulling funds directly from a consumer’s bank account, you reduce any ambiguity regarding the authorization or the source of funds. This process empowers you to better predict and control cash flow while reducing administrative headaches.

Expand Your Market Reach

When you accept eChecks alongside other electronic payment methods, you can expand your market potential by becoming more convenient for more buyers. Consumers can select whatever payment method is most convenient for them while enjoying the ease of choosing you as a provider.

Make Recurring Payments Easier

eChecks are excellent for recurring payments, subscriptions and memberships because you and your customers benefit from robust security features, lower fees and the simplicity of online payments. This makes eChecks an attractive option for buyers or sellers. While credit or debit cards expire after a set number of years, customers can rely on payments going through with an eCheck until they close their account.

Real-Time Tracking

Businesses can track eCheck transactions in real-time, allowing for better management of cash flow and quicker reconciliation processes.

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How Do eChecks Payments Work with CSG Forte?

Electronic checks process through the Automated Clearing House (ACH). The process starts with a customer providing their bank account information through an eCheck authorization form. After authorization is complete, an electronic request initiates the charge to the customer’s account. The merchant then requests the payment through the ACH as a charge the customer.

After a couple of business days, the money moves from the customer’s account to the merchant’s account through an electronic funds transfer (EFT). The merchant account balance updates, and the payment transaction is complete.

Choose CSG Forte for eCheck Payment Processing

Make life easier with a secure and user-friendly payment processing platform. Your company deserves greater ease when handling payments, and our solution provides the features you need. With over two decades of experience in this industry, our platform reflects our expertise and commitment to streamlining your payments processing. Get started with CSG Forte today.

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eCheck Payment FAQs

An eCheck is a way for consumers to access funds in their checking account without writing a paper check. This transaction method requires buyers to provide their bank account information and payment authorization through an online form. Money is pulled from the customer's bank account, transferred to the ACH network and deposited into the merchant's account to complete a transaction.

For a general understanding of the process, consider these steps:

  • Authorization request: Your business must obtain authorization before initiating a transaction. Businesses can use online forms or recorded phone conversations to meet authorization requirements.
  • Payment set up: The customer information enters an online payment processing software. For recurring payments, scheduling information will also appear.
  • Finalization: You can save or submit all information in the software to initiate the ACH transaction process.
  • Deposit: The ACH will complete processes on their end to withdraw the funds from the buyer's account, send a receipt to the customer and deposit the funds into your merchant bank account.

eCheck payments are transactions between bank accounts through the ACH network. This form of payment requires financial institutions to process the payment information, which can take several business days. However, you may see variations in the processing time depending on the financial institution and the time of the transaction, such as around weekends or holidays.

Generally, eChecks will not process over weekends or during federal holidays. This payment process requires several financial institutions to verify information and initiate processes, and most institutions operate within the typical work week during general business hours. Although some banks may offer limited Saturday or Sunday hours, many do not. If a customer places an order on Friday or after, expect the funds to appear by the middle or end of the following week.

Customers can use eChecks to make payments for a variety of products or services. In some cases, merchants may charge a processing fee to accept eChecks. Although this fee is typically smaller than what it costs to process credit card payments, some businesses may encourage eChecks for high-cost products or services or implement a total purchasing minimum before enabling eCheck check-out options.

eChecks are excellent for recurring payments because they add convenience through a set-it-and-forget-it process. Credit cards expire every few years, requiring buyers to update all recurring payment information with the new card numbers and information, whereas accounting and routing numbers remain the same unless a customer closes the account. This simplified process empowers customers to pay for memberships, subscriptions and other recurring payments with peace of mind that they'll never miss a payment.

Like any type of online payment processing, it is possible for eCheck fraud to occur. While eChecks verify authorization, there are times when it may take longer to identify a fraudulent check than you would like, potentially resulting in financial losses or incorrect charges. Malicious third parties can access bank accounts and routing numbers in several ways, such as through data breaches or by referring to past invoices. There are several types of eCheck fraud to be aware of:

  • Counterfeit checks: This form of fraud involves a person using software or some other method to create fake information that appears real when purchasing a product or service. These scammers aim to receive a product or service before a check clears as fraudulent.
  • Unauthorized checks: If a person steals banking and personal information and uses that information to make a purchase, it is an unauthorized check.
  • Returned check scams: A scammer may write an eCheck appearing to overpay for a product or service. The goal of this scam is to ask businesses to repay the difference before the eCheck appears as fake, leaving the business at a loss.

Unfortunately, any form of online payment comes with risks. Businesses must be aware of potential scams and actively mitigate potential risks. Businesses should implement best security practices and consider other methods of ensuring accurate and real payments from each customer. You could also consider creating a policy stating that products will not ship until after an eCheck clears to prevent financial losses if fraud arises.

Secure payment solutions are critical for your operations and providing consumer peace of mind. Thankfully, there are several ways to promote eCheck security to protect consumer information and mitigate business risks. For example, implementing strategies such as multi-factor authentication (MFA) and encryption can protect consumer information and make purchases more secure. You can also leverage fraud-detection systems and implement security practices to identify high-risk purchases and intervene to ensure you prevent or minimize potential losses.