Stay on Top of Finances with Check 21 Processing Services
In the world of business, it is never a good idea to turn someone down based on a method of payment they prefer. After all, if you do not accept their payment, someone else likely is, which means not only you are losing out on a sale, but your competition is gaining from it as well. That is exactly why you need to accept checks. Most of your clients are not going to use checks for payments, but there are some who might still try. Accepting a check is a good start, but the main problem with this is you don't normally know if a check is good or not until your own bank lets you know, and this might take several days. As your own financial stability is based on this, you need to know if the checks are good and if the money is going to transfer correctly into your account. Thankfully, you can do this with the assistance of check 21 processing services. The check 21 processing services makes it easier to determine if the check is good, plus you don't have to pay expensive ACH processing fees you normally would with your bank and other service providers.
When you take advantage of the check 21 processing services, it provides you with an alternative to the Automated Clearing House (ACH). Typically, if you went through your bank or another service provider, you would have to pay an actual fee in order to determine if your checks are not only authentic, but actually have funds inside. With the check 21 processing services, you don't have to worry about this, so you actually save money along the way, which you can reinvest into your company. Plus, you receive an immediate confirmation as to whether or not the account connected to the check has the necessary funds or not. This way, you are able to deposit the funds into your account faster, which in the business world is very important. This expedited cash flow makes your business more efficient and makes it that much easier for you to accept checks.
There are other benefits you receive from using the check 21 processing services over what you might with another checking service. If you submit your own checks as well, you are able to submit the checks by up to 8 pm. With the other options, you have to submit it by 4 pm. This just isn't possible sometimes as you have a business to run and you probably can't just drop everything and head out to the bank. Additionally, in terms of your chargeback window, it is within 40 days. With the other option though, it is within 60 days of awareness of any sort of fraudulent activity. So, with these other services, you really don't know when your chargeback window is going to be. That makes it extremely difficult to stay on top of, which is why you need to use the check 21 processing services for your business.
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