Electronic Check Payment Options

What is E-Check? You may have heard the term before. The “E” stands Electronic Check. It is a digital, electronic replica or representation of a printed paper check. The issuer writes an e-check by using some sort of electronic device and you submit the e-check to a recipient electronically. Like paper checks, you also sign E-checks electronically and are supported by electronic signature technologies. You can see the E-Check advantages over paper checks are as follows:

EcheckConvenience: They are convenient for you and the recipient. There is no need for you to print out a physical check. Instead, you can simply sign an electronic check with a keyboard and mouse. The transaction is completed within moments from when your transaction begins.

Speed: Because an e-check is a digital transaction, it is much faster than a paper check. An average online transaction using an E-check takes less than a second. The transaction cannot be stalled due to a slow Internet connection or network outage. Also, if there is a dispute or question about the validity of an e-check, then the user can simply dispute the transaction in writing. In contrast, if a dispute is made with a bank, then the entire transaction between the customer and the bank is handled via phone call.

 Easy to Use

Ease of Use: An E-check is quite easy to understand. It has a logo that represents both the bank and the issuer, which can be viewed on either side of the check. Once a user chooses an option, you can print the corresponding check, sign the check using a pen, paper, or a laser pen, and then sign the check in the same manner as you would make a paper check. Thus, there is no need for any complicated calculations as with paper checks.


Convenience:  They offer convenience to you and small businesses that are busy. You can carry electronic payments around, rather than carrying physical checks. Also, electronic payments are more secure for you than paper checks, since there is no possibility for fraud with electronic checks.

Loss prevention: Paper checks can have you become a victim of identity theft much easier. An E-check uses an encrypted connection to transact your money from your account. Therefore, if your account is closed down for any reason, the e-check transaction will not be considered a valid one and won’t be available for deposit, leaving no loss of funds for you and the bank.

E-Check Protection

Protection against duplication: Because credit cards and e-check transactions are encrypted, they can provide protection for you against duplication of addresses. Duplication of an address can happen to you when two users with the same card or e-check pay the same bill at the same place. By using two separate e-check or credit card transactions, your account is prevented from getting your funds mixed up with someone else’s. Furthermore, e-check transactions are much easier to monitor than credit cards because all data is printed out in a secure computer file.

A disadvantage of e-Checks is that it does not protect the user’s funds. In some cases, e-Check payments can be delayed or compromised if the information on the account has been tampered with. Another drawback is that you may have to pay a fee to activate and use them, making them slightly more expensive than cash or check payment option.

FintechMerchantAccounts is a Merchant Services company. We specialize in working with high-risk businesses. Our experts can work with you and your small business for all of your payment processing needs. Learn how accepting e-checks can boost your sales for your online business. We provide you with Credit Card processing, E-check, and ACH payments. FMA wants to hear from you! You can call us at 617-918-7232. If you prefer you can also ask your question in the comments section or ask our assistant. She is located at the bottom of your screen.

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