What are the benefits of E-Check

Benefits of E-Checks

Let’s take a look at some amazing benefits of E-checks.

COST-EFFECTIVE

Pricey credit card networks can be avoided with the use of ACH as transaction fee is comparatively low. There is no limit on the transaction amount. If any merchant, looking for a cost-effective processor to accept large payments, ACH is where your search ends.

FUNDS

In traditional paper check method, it might take days to process a check whereas it is not the same with e-checks. Via E-checks funds get transferred faster and more conveniently.

RECURRING PAYMENTS

If a business is working on memberships or subscriptions, it is wise to choose the ACH electronic network rather than the traditional method.

IDEAL FOR SUBSCRIPTION-BASED BUSINESSES

There are many benefits to choosing E-checks for subscription-based businesses. Some of them go as follows:

AUTOPAY

Irrespective of a canceled credit card, ACH payment processing makes sure that the customer does not miss payments. Credit card numbers may change rapidly but it is very rare that the account details of the customer will change. With the use of ACH payment processor, it becomes easy to avoid payment gaps.

SAVE MONEY

Business can save a huge amount of money by long-term subscriptions. With electronic payments, network exchange fee is not applicable, which in turn helps the merchant to save a lot.

EASY & SECURE

In addition, it is easy to initialize online e-check payments. A merchant can create a simple and secure form as per the customer’s convenience. Autopay feature can be set within minutes that avoid extra work of writing checks every month.

REWARDS

With the use of ACH, savings are amazing, which can be available to attract new customers while retaining old ones. Schemes like an incentive for customers, rewards, discount offers or cash offers help businesses attract more customers.

WHO GETS BENEFIT

As a result, there are 8 types of businesses that enjoy benefits the most from E-check payments.

1. Membership Businesses

2. Schools

3. Non-profit Organization

4. A business accepting bulk payments

5. Online subscription-based businesses

6. Retail Businesses

7. Insurance Companies

8. High-Risk Merchants