Check Conversion

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EC7000i_MSR_clipped_nocard-web-300x253 INVEConvert Paper Checks into Savings and Convenience! 

Check guarantee and electronic check conversion provide convenience and peace of mind when accepting check payments. Check guarantee enables you to avoid bounced checks and bank fees as a result of accepting nonsufficient funds (NSF) checks. Our advanced check guarantee system will scan customers’ checks against our database of negative check writers and alert you of negative and NSF check risks. With check conversion, checks will automatically be deposited in your bank account, eliminating the need to make trips to the bank.
How the check conversion works?
Check conversion allows banks to convert paper checks into electronic ones by Electronic Check Reader & Imager and then send them to the appropriate receiving bank. The electronic check is forwarded on via the automated clearing house.
Electronic check conversion is a process in which your check is used as a source of information–for the check number, your account number, and the number that identifies DCU. The information is then used to make a one–time electronic payment from your account–an electronic fund transfer. The check itself is not the method of payment.
The Check Reader & Imager is a cost-effective, feature rich, imaging solution. It is the most widely supported small document imager used for check conversion and walk-in bill payment processing in the U.S. payments industry. Provides connectivity to the most popular POS terminals and has a footprint designed to maximize counter space. Also, delivers a highest MICR read accuracy which results in lower administrative returns due to MICR misreads and rejects. It also captures crisp clear binary images exceeding the industry’s demands for legible images.

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