The Green Sheet :: GS Archives

Merchant Analysis

Retailers at all levels are making careful analysis of the proposals that are being given to them by Check Guarantee companies. In the analysis on this page Mark Baniak of Aetna Plywood, Inc., made a comparison of two of the leading Check Guarantee companies, TeleCheck, and CrossCheck.

In this case TeleCheck prevailed as the service provider, and it may be helpful to view a merchant perspective and comparison, rather than one prepared by a Check Guarantee Company. It can often be a very big surprise to see the world through the eyes of a prospective customer, in particular one which will be candid enough to share the thinking process.


                         Telecheck	     CrossCheck            CrossCheck Advantage

Warranty method          MICR line         Driver's license
Stop pay coverage        yes               yes
Warranty Maximum         $4,000            $4,000
Discount rate            1.12%             1.00%                          X
Monthly minimum          $200              $35                            X
Charge per transaction   Waived            $0.17
Floor plan               Declined          $700.00
Annual or statement fees Waived            $0.00
Equipment cost           Waived            $0.00
Warranty payment cycle   bi-weekly
One time set-up fee      Waived            $135.00 
Multiple check program   Not available     Available at a cost            X
COD program              Complicated       Easy                           X
No fault program         Not available     Available at a cost
Deposit time frame       Not stated        30 days
Submission time frame    45 days from auth 10 days from bounce

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