There is no need to carry a checkbook with you anymore; there is no need to pin down the account number and details of the person on the check. Echeck services have made it easy and convenient to make payment easily.
Yes, what you have read is right, it is instant. With the help of best e-check deposit services in the USA, make your payment instantly.
All you need to do is
The whole process is paper check free. This new process will enable you to create your own e-checks instantly which are printable from your nearest printer. It does not ask for your signature also. Everything including from authorization of the transaction to printing an instant e-check payment is done with the help of phone and printer.
I was enough fascinated to dig about the method and technology used to enable E-check payment services. I will take you through the chain of steps to be followed which will be helpful for you next time when you pay e-check by phone
To make you understand better, I will explain it with an example
Consider x and Y where x is seller and y is a client, if x sells a product to y, y will tell x the check data over the call, x will check the date and enter the provided check data into safe company software database. The final step is to take the print of the check and deposit it into the x bank account. Their mutual banks will make the transaction. There will not be any difference in the number of processing days, even though here the authorization is done by phone only.
The funds will transfer into sellers account in three-four hours
Check through phone, check through fax services are legally approved. They are famously called “Draft check”, the use of draft check came to existence is 1996. The main authorization can be either verbal or written note. All the bank need to do is to check for the stamp of pre-authorization.
Overall the e-check services by phone proved to be revolutionizing in the operation of the banking segment making things easy for customer and business. Make effective use of e-check payment services in USA and forget going to banks.
Also read, How Ach Transactions work,