Payment Processing FAQ

• How do I get started with PayNow!
  read moreTake advantage of this free service by calling 800 430-2370.

• Does the amount of the check matter?
  read moreDeposit item fees and NSF return fees with electronic transactions are significantly lower than paper checks, so the size of the check doesn’t matter. Now you won’t have to worry about taking a $10 check and risking a much higher bank return fee if the check bounces.

• How can PayNow! help my business?
  read moreChecks by EFT, phone or over the Web broaden your business marketing reach by increasing your potential customer base. Adding check acceptance as a form of payment adds convenience, which increases customer options and leads to increased sales and revenues.

• Can I accept Cash-On-Delivery (COD) payments?
  read moreElectronic check processing increases customer service on COD shipments by eliminating the need for expensive money orders or cashier’s checks. PayNow! software enables your business to offer a hassle-free product delivery service that’s convenient for customers. Don’t pay for check verification or guarantee — save your money. Delaying shipments by a day or two and waiting until the check clears takes the expense and risk out of COD shipments.

• What if a payment is returned?
  read moreInternet payments made through the ACH Network can be returned as NSF items or uncollected funds. With proper disclosure, returned payments are resubmitted a second time, and, if needed, a third re-submission. This process dramatically improves your collection rates and removes the hassle from dealing with returned items.

• How do electronic payments work?
  read moreThere are many advantages of electronic payment transactions versus traditional payment and settlement systems. With electronic payments, one-time authorization enables the software to debit the specified amount from the customer’s account and deposit payment to the client’s account for a one-time charge or recurring payment schedule.

• What must I do to inform customers?
  read moreYou must notify your customers that returned items may be collected electronically. This notice can be placed at the point of sale or on a monthly billing statement. You will be provided with the materials needed to notify your customers.

• How are banking fees handled?
  read moreProcessing checks electronically dramatically reduces bank deposit item fees and NSF return fees on those items not clearing.

• Do I need any special equipment?
  read moreFor lock box processing, CheckVelocity provides a scanner so you can scan checks in daily batches. The batch files are uploaded via the Web through PayNow! for ACH Network processing.

• How will I be notified that a payment has been returned? Real-time reporting is available online 24/7.
  read moreReal-time reporting is available online 24/7.