Electronic Check Conversion (ECC) Overview
VeriCheck’s Paper Check Conversion solutions enable users to deposit checks remotely to any bank account at any institution right from their place of business.
Checks are scanned in through one of our approved devices and then (depending on the type of checks received) are either converted into ACH transactions or are sent directly to the bank for clearing, just as if you were to make a deposit at the teller.
Merchants experience faster availability of funds, convenience, business process efficiencies, improved carbon footprint (from reduced trips to the bank, deposit slips, envelopes), and improved risk mitigation.
Utilizing VeriCheck’s Paper Check Conversion solution will revolutionize your business by providing valuable data that can be intelligently fed into internal programs and applications, giving your streamlined access to the information you need to make business decisions.
What Is Paper Check Conversion?
Paper Check Conversion refers to the process of making bank deposits without having to go to the bank. With Paper Check Conversion technology any and all checks, money orders, or coupons can be safely and securely deposited right from your preferred location; Home, Office, Retail POS, Back Office, Billing/Collection Department, etc.
Items are scanned into the system using an approved document scanner, their images are captured and automatically converted into the appropriate file type. Information from the check is automatically pulled into the device or software program and is then submitted to be processed.
All items run through for deposit can be viewed in a cloud-based secure online environment where you can; view transactions, see the status of your deposits, and also extract the information for bulk upload into a preferred accounting system.
Because our solution is bank agnostic, we make it possible for you to use your existing bank account. Simply set up a VeriCheck Merchant Account and give us your existing account information. All checks scanned through your check scanning device will be deposited directly into your preferred bank account.
VeriCheck is the simplest way for your business to start utilizing an Electronic Check Conversion solution that also provides your business with a complete arsenal of diversified payment processing and reporting capabilities.
VeriCheck ECC Advantages
- Work With Any Financial Institution Many banks do not offer an ECC solution for their customers, with VeriCheck we make ECC possible for any business
- No Certification Costs Banks that do offer ECC typically charge a hefty certification cost in order to utilize their remote deposit capture solution, we have already gone through an extensive certification process so you do not have to!
- Dynamic Real-Time Reporting View transaction and deposit details 24/7. Generate various standard and customizable reports. Export information for bulk entry into most accounting systems.
- All Other Solutions Included FREE! When a business signs up for VeriCheck’s Electronic Check Conversion solution, all other services that we provide come with it, including; Virtual Terminal access, Recurring Payment Console, Website Payment Forms, & Dynamic Software Integration capability.