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Electronic Check Conversion |
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The Conquest Electronic Check Transfer (ECT) program combines the benefits of paper checks with the speed, ease and safety of electronic processing—it’s just like accepting a credit or debit card at the point-of-sale. The check is converted into a paperless transaction by electronically moving funds from the customer’s bank account to the business’s bank account. Combined with Check Guarantee, this service delivers a streamlined check-acceptance process that eliminates returned checks and returned check fees. ECT also reduces paperwork and trips to the bank. |
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Accepts checks as easy as credit cards |
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Reduces or eliminates check losses |
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Improves cash flow—funds are available within two banking days
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Eliminates returned check fees and reduces bank fees
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Reduces labor costs associated with preparing checks for deposit |
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Utilizes secure and automated processing |
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Speeds customer check out |
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Provides easy reconciliation and record keeping |
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Reduces the risk of check fraud |
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Maintains the same float as a paper check |
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Provides complete record of the transaction on bank statement |
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Reduces the risks associated with carrying cash and is cheaper than ATM transactions |
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Improves the speed and ease at check-out |
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