Check 21 Services

Electronic Check Services
with Guarantee & more

Imagine no more no bounce checks (NSF), overdrafts or trips to the bank. Well it is possible with Dr. Merchant's Check Conversion with Guarantee Program. Now you can accept checks just like credit cards without the risks. Plus, you you will enjoy the benefits of your checks guaranteed with funds deposited in your bank account within 48 hours.
WHAT IS CHECK CONVERSION WITH GUARANTEE?Check Conversion
Check conversion with guarantee does exactly what it says. It takes an existing paper check from your customer, and converts it to "cash" (not exactly) putting the money directly in your bank account as available funds. This is how we guarantee it! There is virtually NO RISK to your business. In addition, there is NO Chargeback Liability to you for properly submitted checks.

HOW DOES IT WORKS?

  1. Cashier will swipe check through a check reader and input driver's license # and amount of sale.
  2. If Approved, a duplicate receipt is printed and consumer completes and sign the receipt.
  3. The check is stamped "VOID" or "ACH PROCESSED" and check along with copy of receipt is returned to the consumer.
  4. Dr. Merchant's Check Services will fund your local bank account in 48-72 hours. (Consumer still experiences a 2-day float)
  5. YOU will not be charged back for any properly submitted returned checks.

WHEN DO I GET PAID?
Let's assume it's Monday. . .
You verify a check with Dr. Merchant via check reader or imager. At the end of the day when you batch out, within 48 hours (just like a credit card) the monies are in your bank account by Wednesday (just like a credit card).

WHEN IS THE CHECK WRITER'S MONEY DEBITED?
The check writer has a 2-day float. We give the check writer a 2-day float on his money (about the same as a paper check).

WHAT HAPPENS IF THE CHECK WRITER HAS WRITTEN A BAD CHECK?
The money we put in your account is our (Check Service Company's) money, not the check writer's so the money we put in your account is ALL GOOD MONEY! So with our Guarantee Program, YOU NEVER SEE A RETURN CHECK OR A RETURN CHECK FEE, because the check writer's bad check is coming out of our guarantee account (not your account). The bad money is our responsibility to collect from the check writer.

MERCHANT BENEFITSMerchant Benefits

WHAT EQUIPMENT IS COMPATIBLE?ICE 5700 POS System
The following equipment is compatible with Dr. Merchant's Check Services:

What is the difference between a Check Reader and a Check Imager?MICR Check Reader

  1. A Check Reader reads the Magnetic Ink Charactor Reader (MICR) Number only on the Check. That is the numbers on the bottom of the Check. Should we not collect funds on any approved check, you must submit to us a copy of the completed signed receipt to avoid chargebacks.
  2. Check ImagerA Check Imager read the Entire Check, including the MICR number. It takes a photo image of the check and submit it to our database. Should we not collect funds on any approved check, you do not need to send a copy of the signed receipt.
  3. Dr. Merchant highly recommends the Check Imager. Our Service Provider will lower your fees and allow higher check limits.

OTHER CHECK SERVICE PROGRAMS

ACCOUNT RECEIVABLE CONVERSION(ARC) SERVICES
Every month consumers mail payments for utilities, rent, insurance, mortgages and other home services, who process nearly 20 billion checks annually. If your company is on the receiving end of all these payments, Dr. Merchant has the solution to quickly post and process these payments as soon as possible using our Electronic Check Processing Technology.

Dr. Merchant converts your paper check payments into cash that is directly deposited into your business account. You will attach the Check Imager to your PC using our special software to automatically process checks. Once the checks are processed, funds are available in your checking account in 48 hours at a cost much lower than depositing paper checks to your local bank. Contact your Payment Consultant for special pricing under this program.

ELECTRONIC CHECKS BY PHONE
Many businesses transact sales by phone or over the Internet, providing an alternative payment option to customers who do not have or do not want to use their credit or debit card. You will be able to process non-face-to-face check payments with ease.

Dr. Merchant convert your checks by phone in real-time. No need to wait for the check in the mail to clear the bank. Dr. Merchant user-friendly web interface greatly streamline operations, improve customr satisfaction and speeds cash flow. Plus, we automatically re-present payment if return for non-sufficient funds at no extra charge, greatly improving collections. Here is the best part: NO EQUIPMENT INVESTMENT is required for this web-based program. Contact your Payment Consultants for more information and special pricing under this program

RECURRING ACH BILLING PROGRAM
Recurring ACH is where you will debit the customer for the same amount on a regular basis, until the relationship has ended. The benefit of this arrangement is that you will enter this information only once for each customer. Although we do not guarantee the check, you will know which transactions are NSF within 3 days. We will automatically resubmit NSF items up to 2 additional times. You will be funded on all cleared transactions in 5 business days. There is No Equipment Purchase Required. All you need is an PC with Internet Access.

Merchant Benefits

WHAT IS THE COST? (Subject to Change)

Check Services
Discount Rate
Transaction Fee
Voice Auth.
Monthly Access Fee
Monthly Minimum

ECC & Guarantee w/Check Reader
1.65%
$0.40
$0.75
$10.00
$25.00

ECC & Guarantee W/Check Imager

1.55%
$0.35
$0.75
$10.00
$25.00
Recurring ACH
0%
$0.75
n/a
$10.00
$25.00
Checks by Phone
0%
$1.00
n/a
$10.00
$25.00
Checks by Net 1.95% $1.00 n/a $20.00 $25.00

For more information on these exciting Check Conversion programs, contact your Payment Consultant or select check services on any of the following applications . . .

Bonus Free Offer