|Using the Check21.com Virtual Check 21 System enables merchants to create a virtual check (“Print Demand Draft”, “Check 21 Demand Draft”) using their customer’s bank account information. This virtual check is then verified, at the request of the merchant, against Check21.com’s three-tier check verification system.|
Once verification has been completed Check21.com provides the depository bank with the proper transaction information. The transaction information is sent within an X9.37 Check 21 file direct to the bank. The process is similar to that of the Check21.com Remote Deposit Capture Check 21 System, only does not require a physical check to be presented and scanned
by the merchant. That process is done internally on behalf of the merchant at Check21.com facilities.
This process reduces the amount of returned items, chargeback’s, and allows the merchant to receive his/her funds within the same business day depending on the relationship the merchant has with his/her bank.
Some of the benefits of using the patent pending Check21.com Check 21 System are:
|Check21.com LLC © 2009|