What is Check Conversion?

 

Check Conversion is a processing service that converts a paper check, received by mail or at a point of purchase, into an electronic check. The check is converted into an Electronic Funds Transfer (EFT), and processed through the Automated Clearing House (ACH).

 

The electronic check is presented to the check writerís financial institution and funds are transferred into the merchantís bank.

 

The Check Conversion process allows the merchant to avoid the time consuming processing of paper checks, banks run for deposits and data entry. In most instances checks submitted electronically are processed at the bank before paper checks, giving you quick access to valuable operating capital.