What Is An Echeck And How To Pay With Echeck Online?
Echeck is an electronic check that is used in online payment. In the online payment process, the money is transferred from one bank account to another bank account. Online payment is an easy form in any payment process as compared to a paper check. The whole transaction process is transferred over the ACH network.
There are 4 main steps to process an electronic echeck. The steps are request authorisation, payment setup, finalise and submit, and payment confirmation from the bank. An echeck is an electronic fund transfer that uses the Automated Clearing House network to complete the whole fund transaction process.
Let me explain the whole process of the echeck transaction. As we know that the echeck is an electronic version of a paper check. In this whole process, the payee will ask the information about the payer account over the mail or phone call. The information is consists of an account holder name, account number, and routing number. When the payee gets the information, he will enter the details in the virtual terminal machine for fund transfer. The whole entered information will pass over the ACH network. Echeck payment services provider will check the account of a payee whether he has enough requested money to complete the transaction. If the requested amount is not present in the payee’s account the transaction will be aborted. If that’s not the case, then the fund will be transferred successfully.
How Can You Pay With Echeck Online?
There are many payment methods and payment options when we talk about online payment. We know that online payment helps us in many ways. We don’t have to carry too much cash just in case we need in our business. These days in many businesses it is very important to make a quick payment transaction. And it is not possible with cash because too much amount of cash can be stolen or there will be a possibility of being robbed.
To overcome all these obstacles you can opt to pay with echeck online. You can pay any payment via echeck online. Echeck processing accepts debit and credit card payments. Echeck is also used for recurring payments. Recurring payments are automatic payments that are authorised by a payer to their service provider to collect the total charges in every billing cycle. They will collect the total charges by deducting the amount from debit and credit card. Billing cycle can be of one month or 6 months.
Many business people accept echecks. Now it is easy to make an online payment. All you have to do is fill the online payment form given to you at every online transaction. There are many advantages to pay with echeck online. Some advantages are funds can be directly transferred from payer’s to payee’s bank account, transactions are automatic, no fees, and simple.
Quadrapay is here to help with online echeck payment. We offer our services with the lowest transaction fee. Now a days echeck payment is widely used in many businesses. To use our service, please log on to our site www.quadrapay.com and fill up the provided there. After the form submission, we will surely get back to you within 24-48 hours. For any queries, you can mail us on [email protected]. We are waiting to assist you.