eCheck

An eCheck, or electronic check, is the digital counterpart of a traditional paper check. It allows for the electronic transfer of funds from a payer's bank account to a payee's bank account. eChecks are processed through the Automated Clearing House (ACH) network, a secure system used for electronic payments and money transfers.

The process of using an eCheck involves the payer authorizing a payment from their bank account, either through an online payment form or a telephonic authorization. The necessary information, such as the bank account number, routing number, and payment amount, is provided electronically. Once authorized, the eCheck is submitted to the ACH network, which processes the payment by debiting the payer's account and crediting the payee's account.

eChecks offer several advantages over paper checks, including faster processing times, reduced costs associated with printing and mailing checks, and enhanced security features that minimize the risk of check fraud. They are commonly used for a variety of transactions, such as bill payments, payroll direct deposits, and online purchases. By leveraging the convenience and efficiency of electronic processing, eChecks provide a reliable and secure alternative to traditional paper checks for both businesses and consumers.