You need a high risk echeck processing account. QuadraPay brings you high-risk eCheck payment gateway with no setup fees. If your application for an ACH processing account is declined by banks, then high-risk eCheck is the best option for you. Our eCheck solution is perfect for merchants from most high-risk industries.
ZERO SETUP FEE | ZERO MONTHLY FEE | ZERO UPFRONT CHARGES
Our high-risk eCheck merchant account comes with amazing features. These advanced features can help you to easily accept payments on your website and face-to-face. Our check processing solution comes with high-risk tolerance, allowing these accounts to handle a significantly higher return and chargeback rate compared to card solutions.
The rates and fees of the eCheck gateway vary depending on the merchant’s risk profile. A low-risk merchant pays fewer fees than a high-risk merchant. Let’s look at a tentative rate structure for these merchants.
Depending on the merchant’s risk profile, industry, and various other factors, the above rates can change.
Low-Risk eCheck Processing Rates Setup Fee: Zero | MDR: 0.75% | Per Transaction: $0.10
High-Risk eCheck Processing Rates Setup Fee: Zero | MDR: Starts 1.99%* | Per Item: $1*
High-risk tolerance: A regular ACH account requires merchants to keep the return ratio below 0.5%, however, for high-risk eCheck accounts, this ratio can be a lot higher.
Cheaper than card processing: A typical card transaction will cost a merchant around 3%, however, with eCheck, the cost is much lower.
Merchant-friendly solution: While card processing solutions are more consumer-friendly, eCheck appears to be more merchant-friendly. It is much more difficult to raise disputes on eCheck if compared to card transactions.
Our eCheck solution is compatible with WordPress and WooCommerce websites. An e-check transaction is straightforward, as follows:
Echeck payment processing offers various benefits. One of the critical benefits for the buyers and merchants is the 60-day dispute window. With echeck payment processing, disagreements can occur within 60 days. The 60 days time frame starts when the account holder(customer/buyer) receives the bank statement. For a deeper understanding, we suggest you read Nacha and Consumer Financial Protection Bureau websites
Yes! With the help of echeck payment processing, a customer can take advantage of recurring billing facilities to streamline the transaction amount for a fixed period of tenure.
The beauty of echeck payments is that it allows the merchant to accept lump-sum and recurring payments. The recurring business model is very much attractive to customers. It also ensures the merchant receives payments on time.
A merchant can accept recurring payments by key-in the customer’s details into the virtual terminal. It can also be done through an email invoice or through a website where the customer fills in the details and opts for recurring billing.
A Canadian merchant can accept echeck within seconds. Yes! You heard it right. To accept an echeck, it just takes a few seconds as you are receiving an echeck over the phone or mail, unlike physical checks, which usually take 3-5 days to arrive at your destination via traditional mail or post. But after receiving the echecks, you have to initiate the transaction to process the echecks and settle it.
After the echeck is being initiated, it takes 1-2 business days to verify the echeck. It confirms whether the payer of the check has a sufficient amount of funds in a bank account to process the settlement. After the verification of the echeck, it proceeds for settlement. The whole process takes 3-5 business days.
Vitamins are essential for growth. They also play crucial roles in body functions such as metabolism, immunity, and digestion. After a specific age interval, people tend to lose vitamins in their bodies. To overcome the deficiency of vitamins, many vitamin pills are introduced in the market. These pills can quickly cure vitamin deficiency. To sell these vitamin tablets online, the merchant should have a licensed website and a gateway to accept payments from customers.
If you are a merchant selling vitamins tablets in the US, Echeck is the best solution for receiving payments from customers. Echeck has a meager transaction fee than other payment options like credit card processing. Getting an echeck solution is more manageable than getting a nutraceuticals merchant account. Please keep in mind that the product sold should be legal to sell online.
