CHEX PROTECT . About CHEX PROTECT About the ACH Processor & Bank Processor Customer Profile & Services Services & Products EFT/ACH Processing NSF Check Recovery (RCK) Consolidated Returns NSF Check Recovery vs. other Services Electronic Fund Verification
About CHEX PROTECT
About the ACH Processor & Bank Processor
Customer Profile & Services
Services & Products
NSF Check Recovery (RCK)
NSF Check Recovery vs. other Services
Electronic Fund Verification
Electronic ID Verification
CHEX PROTECT is a full service commerce company based out of Gulf Shores, AL, with a multitude of electronic based payment services for businesses. We sell check and credit card processing products and services to retail, restaurants, lodging businesses, and the like.
CHEX PROTECT's bold entries into the emerging markets of check recovery, ACH Processing, Back Office Conversion plus developing associations & bank partnerships has further enhanced our core competency and puts us on the innovative edge in the future of electronic payments.
ACH Direct is one of the largest privately held electronic funds processors in the United States with more than a million transactions per month totaling over $5.3 Billion in ACH transactions processed in 2005. ACH Direct has been providing payment-processing solutions to a wide mix of clientele since 1998 and continues to develop ways to help clients who face an increasingly complex and competitive business environment.
Founded in 1990, The Bank of Kentucky has grown to become the largest community bank in Northern Kentucky with over 270 employees, $900 million in assets and 26 branch/41 ATM locations.
When customers pay for merchandise and/or services by check, whether at the merchant’s location or received by mail, the check is accepted in the usual manner and then later scanned with an imager and electronically deposited. There is no need for an additional signature or additional equipment at the POS. This is a back office function that saves time and money while accelerating cash flow.
BOC enables merchants to accept checks as they currently do, without the need for any additional authorization. At a time that best works for the merchant, the checks are read by a high-speed scanner capturing all of the necessary information. The data file is built at the same time the checks are converted to an electronic Fund Transfer (EFT) transaction. The transaction is automated all the way through reconciliation. The process is integrated, enabling the data to be imported directly to other applications. The information is available through a variety of reporting options, including online access to every transaction, from the time the the check is entered until the time the funds are electronically settled to the account. The actual image of the check itself can be viewed from our secure website.
(The Fed or EPN)
ODFI(ACH Direct’s Bank)
Flow of Debit to Consumer’s Account
Flow of Credit or denial of payment to Merchant
According to Computer World magazine, “The Automated Clearing House (ACH) is a secure, private electronic payment transfer system that connects all U.S. financial institutions. Direct paycheck deposits and debit card purchases are two examples of electronic fund transfers (EFT) that go through this network.”
EFT: Electronic Fund Transfer
Virtual Terminal (VT) is a web-based application that enables merchants to debit or credit their members checking, savings, or credit cards account on a recurring or non-recurring basis.
Because VT is a web-based application, there is no need for expensive equipment. Moreover, it can be accessed from any computer anywhere in the world.
No extra cost incurred for any of these transactions type!
Direct Billing is by far the most comprehensive electronic payment-processing window-based software application available today. Direct Billing Software enables merchants to debit or credit their customer’s checking, savings, or credit cards account on a recurring or non-recurring basis. Direct Billing supports a wide variety of Point of Sale hardware, including check readers, check imagers, credit card readers, and receipt printers making it easy to convert high or low volume of checks into Electronic Fund Transfers (EFT). The software is multi-user and net workable. All transactional data is stored on the merchant’s system. Moreover it utilizes the latest security technology.
When a check writer bounces a paper check or an electronic check, the bank automatically forwards the NSF check to CHEX PROTECT ‘s processing center. The check is then re-presented electronically into the banking system allowing CHEX PROTECT to capture the lost funds for the merchant.
Best of all, our NSF check recovery service is FREE!.
CHEX PROTECT NSF Check Recovery also includes a generous rebate for each item collected offering an extra revenue source for your business.
Save hundreds even thousands per month
# of transaction: 1000
% of Bad Checks/month: 3%
Save hundreds even thousands per month
Avg. Ticket: $25.00 % of Bad Checks/month: 3%
Make RCK an extra source of income for your Merchants
It is the process by which all the merchant's NSF checks are rerouted and consolidated into one single account, while maintaining multiple banks of deposits. Consolidated Returns expedites the processing of NSF checks from 15 to 4 days and reduces the ten to twenty five dollar fee that banks typically asses depositors for each returned deposited item
The consolidated returns service requires the use of a special deposit endorsement that provides routing information for all returned items. The endorsement can be done via a stamp or through your POS system
Save hundreds even thousands on NSF fees
We add profits to your bottom line!