The fact is that check writing still represents a large percentage of the way that consumers pay for goods and services at the Point of Sale (POS). Check guarantee allows you to accommodate the customer while removing the risk of taking bad checks.
The most efficient form of check guarantee allows you to convert the check into an electronic payment that goes directly into your checking account without having to bring checks to the bank. More importantly, you never have to worry about a bad check.
What happens is that when a check is processed, the terminal actually calls out and verifies the check then and there, much like a credit card is verified. If later, the check turns out to be bad, you have no liability for it. Also, similar to credit cards, a check can be declined by the system. You could then still take the check, but it would be risky.
This system is great for merchants who are receiving many bad checks, or are not accepting checks because they are afraid of receiving bad ones. You will pay a percentage to process checks this way (less than 2%), and so we do not recommend this program for all merchants. In addition, certain equipment is needed to make this system go. If you have good credit and see your customers face to face, you would probably qualify for free equipment, including the check reader.
In addition, there are less advanced check guarantee systems where you will manually enter the information about the check, and still go to the bank to deposit checks. The checks are still guaranteed, but there is more work involved.
Acceptance Services has been helping businesses get merchant accounts for a long time. As a merchant account provider, we will do our best to get you an excellent credit card processing account that fits your Point of Sale (POS) set up. We will, also, provide you with the full range of good quality credit card machines. Our credit card terminals will make your job efficient and easy.
A.C.C.S. Corporation, Fairfield, IA 52556
