More than 85% of businesses prefer to receive an electronic payment.
Aite/Deluxe Payments Study 2021
Accept an eCheck just like a paper check in a faster, easier and more secure way. There’s never been a better time to use Deluxe Payment Exchange.
OVERVIEW
To be successful in business, you need to give your clients your best. Sometimes all that takes is offering a better payment experience that also strengthens relationships. That's why Payment Exchange is here. Payment Exchange makes sending checks quick and easy; and receiving them even easier. Since your recipients are expecting a check from your company, they will receive an email notification from you with your company's name shown. Once the check notification arrives in their email, all they have to do is click on the secure link to get it. No account creation or sign up is ever required. Think of it this way: Instead of opening an envelope, they're opening an email to get your check. Here, the recipients can choose to print the check as a guest without signing up, or it can create an account for additional deposit services.
To print the check manually as a guest, the recipient clicks get check. From here, they'll be taken to the Payment Exchange website, where they can sign up for an account to gain access to other deposit services or continue as a guest. If continuing as a guest, they must agree to the terms and conditions. Basically, they agree to print the original check on behalf of the sender. Hit print now and a PDF of the check will appear. Then they just print it, cut it out, sign it and deposit it just like a normal check. The second page of a PDF even features all remittance information to show how to break up the payment and apply it to different invoices. If they need support, they can call the number on the back of the chec. Because your time is valuable and it shouldn't be spent playing customer service all day. Some recipients prefer a full electronic experience to receive their funds faster. Payment Exchange offers different deposit services so they can choose how to get paid.
The best part? You don't even have to manage their private banking information. All they have to do is create an account, preview the check, get payment, and select the deposit services option that works for them. For a small fee paid by your recipient, they can provide their debit card information to receive funds in minutes, do direct deposit or deposit to PayPal. Then they register their payment method and provide their account information. Whichever option they choose, the check will clear for the original amount. As a payer, you'll never see or pay a deposit service fee. When you want to provide a great payment experience, turn to Payment Exchange.
Recipients have a choice about where they deposit their eCheck. Not only will they receive a payment quickly via email notification, but they’ll also be able to choose to print it as a check, direct deposit, or deposit to debit card or to PayPal.
FEATURES & BENEFITS
Recipients can always print a check at no cost, without setting up an account. This gives them quicker access to funds whether they decide to use direct deposit, to add funds to a debit card or to send to their PayPal account.
Our proprietary approach based on patented technology allows companies and banks to help reduce fraud by easily verifying the authenticity of each eCheck.
Safe, fast payments with deposit options will help you continue to build strong relationships with suppliers and customers.
All payments enable remittance information, a personal note and attachments to travel with the payment. This gives the recipient the chance to quickly understand how to apply the payment.
Facts
HOW IT WORKS
The recipient gets payment notification via email and retrieves the eCheck from a secure Deluxe Payment Exchange server.
The recipient can print the eCheck from their own printer or utilize Deluxe Deposit Services for a fully digital experience.
If printing the check, the recipient endorses and deposits as they would a traditional paper check. If utilizing Deposit Services, they would need to complete the registration process and link their account to receive the payment.
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Testimonials
RESOURCES
When payees are notified by email that they've received a check, they'll simply retrieve it from our secure online system by clicking the “Open this check” button. Then, print it out on any printer and cash, or deposit it just like a paper check. It’s free and no registration is required.
Anyone who accepts checks can accept eChecks! They are exactly like any other check accepted by your bank. If your bank does have questions, they can simply follow the directions on the check to verify its authenticity.
Yes. Just like you can print airline and concert tickets from your own printer, you can print your checks as well. Every eCheck contains a digital fingerprint that cannot be forged and allows for easy verification.
Yes. Simply endorse the back of the check and you’re ready. Using your phone, mobile device or other optical reader, eChecks can be easily processed.
Recipients can print from any home or office printer, on plain white paper, at any time within 90 days of receipt. No need for recipients to ever enter their banking information, and no fees or obligations to receive their payments.
After cutting along the dotted line and endorsing the back, the recipient can deposit the eCheck with their bank or credit union via ATM or using Remote Deposit Capture on a smartphone. When available, if the recipient needs access to an eCheck payment even faster, they can opt in for those funds to be deposited to their bank account in minutes by using Deposit Services that include direct deposit, deposit to a debit card, or deposit to PayPal.
Yes. Payees can sign up for a free account and use Deposit Services that include direct deposit, deposit to a debit card, or deposit to PayPal, however no sign up is required. Anyone can retrieve their eCheck as a guest without giving any personal information.
There can be some variance depending on bank processing schedules and a payer’s financial standing, but typically it takes 24-48 hours for an eCheck to clear.
