Check Guarantee

Accept Checks in your Business

How many checks per day to you currently receive?
How many checks bounce?
How much does it cost you when your customer bounces a check?

What is your collection procedure for returned checks?

Would you like to always receive your money back on returned checks?

Why should your business accept checks?
No credit limit - the limit is based on how much the checkwriter has available in their checking account, not a pre-determined spending limit.

Higher sale amount - more impulse purchases - cash is not always available for the consumer, checks are readily available.

Lower theft/Fraud - Checks are less likely the target of theft or fraud in comparison to cash or credit cards

90% of shoppers carry checks - only 60% of consumers carry credit cards

Lower cost to process - overall cost to process checks is lower than other payments, including credit cards.

Check readers and Check imagers are available in a variety of machines including:

First Data FD200 and the trusted Telecheck Eclipse.

Why do customers pay with checks?
Bank Float - #1 reason!

No need to carry cash.

Quick and easy to process

No associated interest payments

Safe - not easily stolen

Easy record keeping

TeleCheck check acceptance services process utilizes the TeleCheck check writer database.

Another important fact regarding TeleCheck services! When a checkwriter writes a bad check at ANY TeleCheck merchant location, the information is retained by the TeleCheck system and is provided to all other TeleCheck merchant immediately where that checkwriter tries to pay via a check.

What makes Telecheck state of the art?

Positive File vs. Negative File

The Positive File includes the check writing history of the millions of checkwriters.
The Negative File includes the check writers who have check/transactions that have returned and has not been resolved. Checkwriters in the Negative File will receive a decline at any merchant location using TeleCheck's services. Once a check writer has resolved the negative item, they are placed in the Positive File.
Once in the negative file data base, it is the checkwriter‟s responsibility to clean up his/her check writing history to move from the negative file data base to the positive file data base. Customers who do not resolve their check writing dispute remain on the negative file in our system for 7 years.

When processing a check via a TeleCheck check acceptance service, the system generates and provides the merchant one of three codes:

Code 1 – Approved transactions are assigned a four-digit code.
Code 3 – No information is available. TeleCheck has no negative information on the check writer or company, but the check falls outside established guidelines that TeleCheck will guarantee at this time.
Code 4 – Denied – checkwriter has history of writing checks with insufficient funds. TeleCheck has information on file that prevents warranty of any check from this check writer or company at this time.

The TeleCheck system provides one of these three codes, along with an approval code or a reference ID number.

The reference ID number is to be written on a TeleCheck Courtesy card and handed to the checkwriter.

The courtesy card has a toll-free number in which they may call to identify why his/her check was denied.

Approval rate is 98%.

At the end of the day the you just close the batch like credit cards.
Funds are automatically deducted from the checkwriter‟s account and deposited into your checking account within two business days.

We can also assist with Special Programs including:

Check Cashing
Gaming
Internet Checks

Checks By Phone

Mail Order
Auto Hold Check
Checks on Delivery