Electronic Check Conversion
Now available through LGDA, peace of
mind and savings. These are the result of LGDA's newest program,
Electronic Check Conversion. Although the use of debit cards
is growing rapidly, checks remain one of the most preferred methods
of payment. Checks are also becoming a major source of business
losses. Let this program put your mind at ease.....and make
your job easier....
LGDA has teamed up with CrossCheck,
Inc. to offer you this fabulous service.
How does it work?
Consumer presents check to cashier.
Cashier inserts check into the EnCheck
3000 checkreader which reads the magnetic ink character line (MICR)
at the bottom.
The check data is sent to the service
provider for verification and conversion. Verification involves
checking the provider's database for "negatives".
Negatives occur when a check writer has an uncollected check with
the provider and hasn't made payment arrangements.
Within 10 seconds an approval or
declination is received.
Upon approval, conversion has already
occurred and the check is sent to the service provider for imaging.
The customer signs a receipt similar
to that of a credit card. This receipt contains the necessary
legal disclaimers and notifications needed for the conversion
Funds typically arrive into merchants
bank account within 24 hours.
The customers bank statement shows
the retailer's name, check number, and the amount of the "check".
100% of check amount is guaranteed.
Automated check acceptance.
Funds are "good" as soon
as received in account.
No per item fees from your bank (in
Return check fees normally don't
apply to electronic items.
No time consuming deposit slips.
No trips to the bank just to deposit
100% pay out on closed accounts.
No risk of accepting a non-MICR counterfeit
As low as .55% + $.15 transaction
Call now to find out