It’s common for people to send and receive echecks in exchange for goods or services. In some cases, it’s a direct payment from one person to another, such as when you rent a car from an individual. However, businesses also send checks to vendors for purchases or bill payments.
Taken together, the practice of sending and receiving checks is something that makes business more manageable.
The Pros of Sending eChecks
Here are the benefits of sending check payments:
- Pay ASAP and control your cash flow. Many people choose to pay with checks because they get instant access to their cash and manage their finances better.
- Pay safely and securely. When you pay with an instant check, you do not give out sensitive information such as your Social Security number or bank account number. The only information shared with the payee is your name and mailing address – information already available in public records or directories.
- Save money. With online check printing, you don’t have to spend extra money on postage, envelopes, and related supplies.
- Pay from anywhere. eChecks are accepted by all financial institutions, which makes them a global payment option for international transactions and domestic ones.
The Pros of Receiving eChecks
There are several advantages of receiving check payments from your customers.
- Receive funds faster: One of these is the convenience of faster payments– you don’t have to wait for the roster, payments happen immediately.
- You don’t need to sign up: A second advantage of receiving checks is that you don’t need to sign up – you can start accepting payments right away.
- Receive money free: Lastly, you receive money free– payment enablers do not charge a fee for the service.
Lastly, you also get a detailed report on every check, which will be very helpful in tax season.
Author Bio:- Blair Thomas has been a music producer, bouncer, screenwriter and, for over a decade, has been the proud Co-Founder of eMerchantBroker, the highest-rated high-risk merchant account provider in the country. He has climbed in the Himalayas, survived a hurricane, and lived on a gold mine in the Yukon. He currently calls Thailand his home with a lifetime collection of his favourite books.