Collection Agencies and any other business that does not qualify for a credit card merchant account
can EASILY QUALIFY for echecks!!
APPROVAL IS GUARANTEED!*
No Monthly Limit
No Transaction Limit
Echecks are a great tool to debit funds from your debtor’s bank accounts electronically. Our echeck system is second to none and offers the following benefits.
Get around merchant account processing limits.
Many times when you first open a merchant account the underwriting bank may impose a processing limit on your account to minimize risk. Usually this is anywhere from $5,000 – $20,000 / month. Echecks help you increase that limit as it is a seperate system from your credit card merchant account.
Get around reserves.
Often times banks will hold a percentage of your funds to make a reserve to reduce risk from chargebacks or fraud. These reserves can be quite steep sometimes going over $30,000 or more. If you try to add additional merchant accounts to increase your merchant processing limits you might end up with two separate reserves that will negate this advantage.
Your processing rates are usually on the high side for credit cards when it comes to high risk. So what is the best option? Short answer: Echecks.
Since echecks are not using the ACH system they don’t fall under NACHA rules…so basically ANY BUSINESS can qualify for them. PLUS…they are extremely affordable. MUCH LESS than what you are currently paying processing debit and credit cards.
For example….the Echeck system that Decca Payments uses only costs 1.69% and 35 cents per check with an $8/month gateway fee. That price includes unlimited echecks.
Larger agencies with $50k per month or more can qualify for even lower rates.
Checks are deposited into your account in as little as the next business day (depending on which bank you use). We have an online website where you can enter your echecks.
So if you have a debtor on the phone with verified funds in their bank account simply use an echeck instead of their debit card and save yourself from reaching your processing limits…and save yourself some cash as well!