Business Payment Solutions

  Excerpt: Considering an eCheck for a contractor or vendor? Use this practical preparation guide to confirm the payee can accept a printable check, gather the right payment details, and decide whether the workflow fits the payment. A vendor asks, “Can you send an eCheck?” For a small business, that question deserves more than a quick yes or no. An eCheck can be useful when you want to send a check by email instead of printing and mailing it, but the payment still needs to work for the person receiving it. The best starting point is not the payment tool. It is the specific invoice, the vendor’s deposit process, and your own recordkeeping needs. Before you send an echeck, walk through the preparation steps below. First, confirm what the vendor means by “eCheck” The term can mean different things to different people. In the workflow described by OnlineCheckWriter.com, an eCheck is a check sent by email rather than printed and mailed by the sender. The payee receives it as a...

  Three clicks on the surface. Five stages underneath. From where the sender sits, an eCheck is barely a process at all. You fill in the details, approve it, and wait for a confirmation. Three clicks and it is someone else’s problem. Underneath that is a sequence with five distinct stages, and each one can fail in its own particular way. Understanding how eChecks work at each stage is what lets you tell a customer why their payment has not arrived, or explain to a vendor what a returned transaction actually means, without guessing. How eChecks work depends on which way the money is going One thing has to be settled first, because the journey is genuinely different depending on the answer. If you are sending, you are paying someone with a digital check. It reaches them by email, and they print it or deposit it through their own bank app much as they would a check that arrived in the post. If you are collecting, your customer is authorizing you to pull funds from their bank...

Three clicks on the surface. Five stages underneath. From where the sender sits, an eCheck is barely a process at all. You fill in the details, approve it, and wait for a confirmation. Three clicks and it is someone else’s problem. Underneath that is a sequence with five distinct stages, and each one can fail in its own particular way. Understanding how eChecks work at each stage is what lets you tell a customer why their payment has not arrived, or explain to a vendor what a returned transaction actually means, without guessing. How eChecks work depends on which way the money is going One thing has to be settled first, because the journey is genuinely different depending on the answer. If you are sending, you are paying someone with a digital check. It reaches them by email, and they print it or deposit it through their own bank app much as they would a check that arrived in the post. If you are collecting, your customer is authorizing you to pull funds from their bank account...