Electronic Check Benefits

• It costs on average $1.22 to process a paper check, a PaySimple e-check costs you only $.55.
• Check conversion requires very little effort or time to set up, and once it is established, your company immediately begins saving money.
• Check conversion 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 check conversion.
• Check conversion is the fastest-growing type of electronic payment ever. Over 1 billion consumer bill payments by check were successfully converted to ACH payments in 2004.
• Check conversion reduces time and resources needed to process payments, resulting in continued cost savings to your company.
• 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.

Source:electronicpayments.org