Electronic Check Benefits

It costs on average $1.22 to process a paper check. A PaySimple echeck costs you only $0.55.
Electronic check processing requires very little effort or time to set up, and once it is established, your company immediately begins saving money.
Electronic check processing relies on the same secure network used for Direct Deposit and Direct Payment, the Automated Clearing House (ACH).
The Federal Reserve's Regulation E and the NACHA Operating Rules regulate electronic payments processed through the ACH network. Because of Reg E and NACHA's Operating Rules, consumers have greater protection with electronic check processing.
The number of electronic check payments processed in the U.S. increased to 2.75 billion payments in 2008.
Four out of five consumers who use electronic checks as a form of bill payment say they are very satisfied with it.
Electronic check processing has been shown to reduce the number of returned payments and posting errors due to the speed of processing (compared to mail and paper checks).
Electronic processing reduces the burden on our nation's transportation systems and the environment. It takes a considerable amount of fuel to ship our country's millions of checks each year between companies, financial institutions, and customers.
Timing of incoming payments from customers will be more predictable and reliable, improving your cash flow. Learn more about electronic check (ACH) funding times.

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