Check Services
AVENEW offers a variety of check payment products and services which can help:
• Eliminate bad check issues forever
• Eliminate costs associated with check collection
• Obtain approvals on checks just like credit cards
• Receive your money on check payments just like credit cards
• Accept checks without the inherent fear of having them go bad
Check Payment Options:
• Electronic Check Guarantee – Approval in Seconds!
• If a check bounces that we have guaranteed, we’ll pay for it, eliminating all check collection expenses.
• Electronic Check Verification (“ECV”) – Avoid bad checks before you accept them!
• Searches negative databases of bad check writers and alerts you to your customer’s bad-check history. The database tracks recent check writing activity to identify patterns leading to a bad check.
Electronic Check Conversion converts a paper check to an electronic transaction as the POS Information is transmitted electronically to a national verification database where it is evaluated against a negative file. A positive or negative response is sent back to the POS within seconds of initiating the transaction.
A paper receipt is printed at the POS device, as it is with credit cards, thereby authorizing the electronic collection of funds. The transaction information is stored electronically and the funds are routed to your account within 48-72 hours, just like credit cards.