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Anyone Using eChecks for Payments?

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  • Anyone Using eChecks for Payments?

    I'm using Authorize.Net as my merchant processor.

    I recently received an email saying I was eligible to integrate eChecks.Net into my payment methods.

    Does anyone use this as a form of payment on their website?

    Has anyone heard of any pros/cons about this payment method? Particularly safety issues (more-so in terms of the merchant, and not the customer).

    Thanks everyone!

    Joe

  • #2
    We were looking at using Echeck.net as well through authorize but quickly decided against it. The biggest "con" of the echeck is its processing time (7-10) Business days before payment is cleared and deposited. The other matter is that there is still no merchant protection from payment dispute.

    There is are still only a few ways of having guaranteed money without dispute. Cash, Money order, or what we are looking at intergrating now which is a western union option. The western union option is the best option especially for international orders. As long as there is a Western Union in your area to receive the funds. It is quicker than a check and as secure as receiving cash in hand. The fees are paid by the consumer sending the funds and they are trackable after the funds are sent.

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    • #3
      We tried it- but not for long.

      It takes up to a week for the batch to settle. Then we had two of them fail- even after the wait- and lost the money.

      The fees are much lower, but it's not worth it.

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