Why Should I Take Checks By Phone Or Fax?
| Accepting checks by phone/fax is quickly becoming the most economical and fast method
of receiving payment. The phone and utility companies have been doing it for over
a decade. |
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Funds Accessibility |
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| Not everyone has a credit card, or the card is maxed out. However, almost all people
and business have a checking account. |
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Economical To Use |
| Because of how efficiently we run CheckComposer, we are able to offer the service
with no monthly fees and a very low per check charge. |
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Quick Availability Of Funds |
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The Federal Reserve created the Check-21 law on 10.28.2004, this system digitally processes paper checks to facilitate rapid transfer of funds. This means that you get paid faster!
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Compare |
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CheckComposer |
ACH/EFT |
Credit Card |
| Setup Cost |
$0 |
$149 |
$149 |
| Trans Cost |
$0.20 |
$0.95 & 2-3% of sale |
2-3% of sale |
| Account Setup |
1 day |
7 - 21 days |
7-21 days |
| Chargebacks |
No* |
Yes |
Yes |
| Funds Available |
1-2 days* |
2-3 days |
2-3 days |
| Customer Needs |
Checking Acct |
Checking Acct |
Credit Card |
*Your customer cannot 'charge back' a check and they are more inclined to have the
funds available, because he/she will incur a bank fee for insufficient funds.
**for banks which are check-21 compliant - results may vary |
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