Advantages in Using MyECheck Services

Are you a retail store or an eCommerce site? Do you process payments for mortgages, car insurance, vacations, air travel, brokerages or property tax?  Are you tired of credit card processing fees, charge backs and rolling reserves?  We have the solution!

MyECheck offers the fastest, safest and most cost effective way to process electronic payments from your customers.  Here’s our top reasons why you should be using MyECheck.

Faster Purchase Time

eChecks processed on the MyECheck system are typically accepted in 1-3 seconds and clear the same day or overnight compared to typical Automatic Clearing House system (ACH) time frames of 3 to 5 days.

Higher Conversion Rates

Checks are the most viable alternative to cards enabling conversion of declined card transactions or customers without cards.

Lower Processing Cost

MyECheck offers its services at a fraction of the cost of credit-card processors, and does not charge any set-up, recurring or account maintenance fees.

Higher Profit Margin

MyECheck offers its services at a fraction of the cost of credit-card processors, and does not require any deposits or rolling reserves.

Higher Approval Rate

eChecks processed on the MyECheck system enjoy approval rates averaging over 90%, with many merchants exceeding over 95%

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Guaranteed Transactions

Full liability coverage is available for all approved transactions - merchants are reimbursed 100% of the value of returned checks, usually within a few days.

Offers Easy Alternative to Credit Cards 

Up to 50% of adults either have no credit card or have insufficient available credit on their cards, meaning that as many as 80 Million US adults have no ability to buy online at the many websites that only accept credit cards. By not accepting checks, you are missing a huge opportunity.

Secure Transactions

No additional fraud screening is required with MyECheck. The system verifies the bank account, checks national negative databases and profiles the transaction using proprietary shopping pattern algorithms and continuously updates this database with check writing histories.

"Checks processed on the MyECheck processing system are typically approved in 1 to 3 seconds with check authorization and payment guarantee available."

"MyECheck provides faster clearing and funds availability, substantially reduces charge-backs and risk and improves cash-flow; all at a much lower cost than credit or debit cards"

Ability to Debit More Bank Accounts

MyECheck can debit every US checking account, even accounts that ACH cannot such as many Credit Unions, S&Ls, small banks, brokerage accounts, business accounts and credit card check accounts. 

Checks offer the number one Form of Payment

Checks continue to be the number one non-cash payment method in the US with the value of checks processed annually over forty trillion dollars.

Less Regulation

MyECheck is a Check 21 service not ACH, therefore transactions are not subject to the myriad of NACHA rules, regulations, fees and fines imposed upon all other eCheck transactions that are ACH.

And, as the leader in check image processing for online merchants, MyECheck's patented RCC solution will provide you with financial access to more consumers than any other single payment method.

The future of electronic processing for eCommerce is here and one exciting company has the edge.