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Post Sale Check Conversion
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You can now process your checks electronically from your office.
No more trips to the bank to make daily deposits. The total of all
checks for the day is credited to your account in 24-48 hours and appears
as a memo item on your bank statement.
By processing a paper check, you can expect a delay in time from the original deposit to
receipt of a returned
check of 7-14 days. With Post Sale Check Conversion, you will know if a check has been
returned in 48 hours.
Post Sale Check Conversion expedites the check clearing process and provides a vehicle
for cost reduction.
BENEFITS TO YOU
You should realize significant cost savings relating to:
- Deposit Preparation
- Transportation Costs
- Check Clearing Fees
- Return Item Handling
- Collection Efforts
- Fraud
THE PROCESS
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1. |
At the end of each business day or sometime during the day, you swipe your customers' check
through a reader to capture the MICR information from the check.
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2. |
This information is automatically transferred to a PC with our proprietary software installed or to a standard credit card terminal; the dollar amount of
the check is entered using the terminal's keypad or the PC's keyboard.
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3. |
After all checks have been processed, they are transmitted to BTC's host server for
transmission to the bank's ACH department for origination and
debited from the customer's bank account the next business day. The total of all checks for
the day is credited to your account and appears as a memo item on your bank statement.
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Electronic Processor
302 S. Cheyenne Ave, Ste. 116
Tulsa, OK 74103
Ph: 918-298-9994 Fax: 918-298-9995
rjacobs@electronicprocessor.com
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