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Check Conversion Factoid 


Knowing all of the facts arms you with the knowledge to close the sale.

Fiction:  Electronic check conversion at the point-of-sale (POS) will immediately debit the check-writer’s account as soon as the check is read through the check reader, while simultaneously crediting the merchant’s account.

 Fact:  All electronic check conversion transactions are generally credited to the merchant’s account within 48-72 hours of batch out, not immediately after the check is read at the POS. Transactions are verified against both positive and negative databases, not real time “live” accounts for funds verification. All merchant transactions are processed via the Federal Reserve, and it does not currently have a mechanism in place for instantaneous crediting of merchant bank accounts.

While Global eTelecom, of Destin, Florida, is developing new ways to utilize debit and EFT networks to process and clear transactions, all current transaction credits to the merchant from any electronic check conversion processor/provider are generally completed within 48-72 hours and all utilize the ACH network regulated by NACHA and the Federal Reserve.

Know your facts–close the sale.

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