Are you finding that it takes too much time and effort to process every check you receive by mail? There are so many costs involved with this particular process. It can only seem right to consider more efficient forms of consumer payments. You can obtain more benefits by beginning to accept this convenient payment method from consumers. Today, more companies are seeing the advantage of including a phone option in the mix. Checks take time to process and deposit into your account. First, the customer has to write out the check as well as mail it. Then you have to stamp or sign it for deposit. After this process, the paper check must be physically taken to the bank for deposit. This is very inconvenient to your customers and the internal staff in charge of the process. If your business provides a service or collects money from individuals, mailed payments are less dependable. A person may say they are going to send money but then avoid doing so. The ability to accept phone checks allows for real time transaction processing. Customers must provide their information at the time of the call to make the payment. It is entered into a system and then deposited on the next business day. Transactions are secure, received faster, and highly efficient.
Understanding Check by Phone Transactions
Check by phone is a simple and fast way to accept payments. The process is initiated by a customer calling or by a representative calling to collect a payment. The employee enters their account information into a secure portal. A nine-digit routing number along with the account number must be supplied. The customer must also supply their address, name, and phone as listed on the check. Verbal authorization has to be given to finish the transaction. You submit it electronically to be authorized through the system. The service provider takes care of all other work behind receiving funds for each transaction.
The ability to take check by phone payments allows you to forego the continual expense involved with processing paper checks by mail. It is just as simple to accept checks as it is to process credit transactions. Costs are lower, funds get deposited faster, and you can monitor accounts continuously while reducing incurred bank fees. Set up recurring customer payments to reduce staff time and make more profits. When you accept phone checks, you receive the additional benefits of less bank trips, decreased risk of fraud, and lower numbers of bad checks.
Starting the process does not involve an extensive amount of work on your part. With one phone call to AVPS, we can begin by helping you select the appropriate merchant account and services. Once a merchant account has been lined out and created, we can assist in setting up the secure gateway connection for processing. Our staff will explain all fees to ensure you know what to expect when customers begin paying by check either by phone or the web. Services are convenient, secure, and can match the needs of your customers.