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Check 21 Payment
Services
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Check 21, the newest and most
flexible method of settlement options, allows companies to make
and receive payments without the use of paper checks. Our
flexible settlement solutions can cover any company's payment
needs--whether it's for low-risk businesses, like a supermarket
chain, or for more risk-oriented merchants such as Adult,
Tobacco or Internet Pharmacy. We’ve spent years processing
specialty merchant account settlements and are recommend Check
21 as an ideal alternative payment service for your buyers. |
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Call
Today
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Your bank or ours?
Your Check 21 transaction files can be
deposited in one of two ways:
1 - We prepare a
settlement file for deposit to your company's
checking account at your bank's local office in the Los Angeles
area.
In this scenario, we do
not require a security reserve and return item charges, if any,
are assessed by your financial institution. The following are
examples of nationwide banks with local offices in the Los
Angeles area, others may be available:
Bank of America
Chase
US Bank
Wells Fargo
Citibank
2- Your settlement file
is deposited in to our business checking account.
Normal underwriting and security reserves apply. Return
items are cleared through our checking account and debited to
your account along with the return item charge.
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NEW!!!
Web Merchants obtain
Buyer's Signature
for online Check 21 Processing
The Check21 Service
captures transaction and user data plus the
user’s actual signature
to create an image of an actual check. The resulting check image
qualifies as a fully legal replica of a physical paper check for
Check 21 processing, which enables debiting of checking accounts
directly through the U.S. banking system. The advantages of the
Check21 Service for internet purchases are that Check 21
transactions:
- Are
legal checks for all banking and payment purposes.
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Carry the customer’s
actual signature,
and are therefore more difficult to challenge dishonestly –
reduction in consumer friendly
fraud.
- Are
governed by EFT rules, rather than ACH rules.
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Enable faster returns processing.
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for more
information about the ACH and Check21 Services,
click here
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About Check 21
“Check 21” is a United States federal law enacted to create and transmit fully digital images of paper checks for electronic
processing through the banking system. Enacted in October, 2004 as a result of September 11, 2001 (when the transportation of
physical paper checks was disrupted), a Check 21 image is the legal equivalence of a physical paper check for all purposes
within the United States.
A Check 21 image is an electronic picture of the front and back
of a physical paper check. Data captured includes:
* From the “front” of the check: transaction date, payee name,
dollar amount of the check (in numbers and spelled out), payer’s
bank routing and transit numbers, payer’s checking account
number, and the payer’s signature.
* From the “back” of the check: payee’s endorsement and
depository instructions (bank and account information).
The check-based data are captured in the Check 21 format and
transmitted through the U.S. banking system; there is no central
clearing house. The Check 21 system is completely separate from
the ACH system in the United States, and Check 21 transactions
are governed by U.S. check laws and regulations, not by
electronic funds transfer laws.
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