Additional Benefits of eChecking with ValidCheck
Just when you thought you’d learned everything there is to know about eChecking: there’s more to cover! You’ve got some insight on how this digital banking system provides speed, convenience, and safety for you and your customers – but it keeps getting better. From additional security to automated processing, here are a few more aspects of eChecking that you should know about!
ACH Network
Though eChecking is more convenient in many new and innovative ways – some parts of the process stay the same! Just like paper checks, transactions are run through the automated clearing house (ACH) during electronic funds transfers. This robust banking system runs financial transactions for consumers, businesses, and various government entities. Credit and debit transactions are processed in batches for maximum convenience and speed for all involved parties. When using ValidCheck, rest assured that digital funds are handled by way of trusted and time-tested practices.
Recurring Billing
As a businessperson, you’ve worked hard to secure reliable and loyal customers. To make processes even more efficient and streamlined, you can enroll clients into a recurring payment system with eChecking. Just like traditional transaction processing, you can make sure funds are deducted from their account on a specific date! This helps you and them by eliminating a trip to the bank, and an influx of paperwork. Their information is conveniently synched upon entry and can be accessed at any time when collecting funds.
Digital Signatures
Aside from ease – eChecking offers many incredible safety features that protect funds during the transaction process. One of these components is a digital signature to authenticate each check that is sent and received. Much like paper checks, a signature is required to validate identities and ensure that fraudulent transfers are caught before they get too far. With ValidCheck, you get the same security – except the signature is digital – which makes it even more secure! Information is cross-checked and analyzed in our databases in real-time, so nothing suspicious will get through the cracks!
Encryption
Another excellent safety component of eChecks is encryption. This common digital practice ‘codes’ all data that is being transferred – and banking institutions have a key or passcode to access it. With this measure in place, it makes it nearly impossible for thieves to hack into checking systems and steal money and other info. This coding safeguards incoming and outgoing digital funds – so that only verified parties are allowed to view and process the information.
Designed to increase productivity by streamlining online payment systems, ValidCheck was created to revolutionize how consumers and businesses send and receive payments. Contact us to find out how this secure and easy system can assist your business!