CHECK SECURE

CHECK SECURE™ General Questions

Q: Are Checks over the net without an actual signature legal?

The Federal Banking Regulations and the Uniform Commercial Code both authorize you to accept checks over the Internet. Our Merchants deposit checks received from CHECK SECURE™ in banks located in every state including Hawaii and Alaska.

Q: What are the advantages of accepting checks over credit cards?

The advantages are quite a few beginning with the CHECK SECURE™ transaction cost is a flat fee and not a combination of a fee, a percentage of every sale, and a monthly gateway fee. A lot more customers have a checking account than have credit cards and many customers would rather not charge their credit cards up further and incur additional finance charges. In the case of business customers or customers purchasing a product or service for business purposes, checks are the preferred payment method for business expenses. Our Merchants have told us that their closing ratios and subsequent sales have increased when they included CHECK SECURE™ as a payment option.

Q: Can customers who have checking accounts with a Canadian Bank use CHECK SECURE™ ?

Presently the banking laws in Canada do not allow or have provisions for Canadian Bank Accounts to be used over the Internet. We are constantly monitoring this issue and when Canada changes their Banking Laws, CHECK SECURE™ will be able to accept and process checks from Canadian Customers.

Q: Is it safe to give checking account information over the Internet?

CHECK SECURE™ utilizes state of the art encryption and a secure site for your customers to utilize when providing banking information. Numerous other security measures are in place that we do not disclose for obvious reasons.

Q: Will accepting checks over the Internet increase my sales?

The information we have received from numerous Merchants we have is that not only will sales increase, but your closing ratios will increase which also increases your sales. Remember, the Internet is about offering consumers' choices and accepting checks with CHECK SECURE™ is a very important part of that mix.

Q: I accept all Credit Cards now so why should I accept Checks?

Credit Cards only address a portion of your customers preferred payment methods. Today there are over 200 million people with Checking Accounts and only 80 million with Credit Cards. Customers that have Checking Accounts far outnumber your customers with Credit Cards. The other issue is that many customer's and especially business customers, prefer to pay by Check as their Credit Card Accounts are primarily reserved for Travel & Entertainment Expenses, and General Overhead Expenses are almost always paid by Check. If you sell to businesses, CHECK SECURE is the perfect solution. Many of our Merchants experience an immediate increase in business and an increase in closing ratios, when they offer CHECK SECURE as a payment option.

CHECK SECURE™ Pricing Questions

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Q: Is there a monthly fee or monthly minimum with CHECK SECURE™?

There is no monthly fee on any of our accounts at this time. You are only billed for the number of transactions. Our minimum monthly bill is $5.00 and if you have no transactions for a given month, you are billed nothing. In other words, if you have a DIRECT DEPOSIT PLUS Account with us and you only process 3 checks at $ .88 per transaction, you would be billed our $5.00 monthly minimum and if you have no transactions you are billed nothing.

Q: What is the Sign-Up and Set-Up fee for CHECK SECURE™ ?

Depending on the type of Merchant Account you get, CHECK SECURE™ signup and setup fees range from $24.95 to a maximum of $39.95. Any signup or setup fees we charge are a one-time charge and allow you to use the CHECK SECURE™ system on an on-demand basis 24 hours a day, 7 days a week. Our per transaction fees are a flat fee per transaction (Amount of check does not matter.) and are billed monthly.

CHECK SECURE™ Processing Questions

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Q: Does CHECK SECURE™ verify if funds are available for a check that was issued?

Presently, the only way to verify if funds are available to cover a check, is to physically make a phone call to the bookkeeping department of a bank and verify funds. CHECK SECURE™ Merchants have not requested this service to be provided by us and in the future, if we have requests to provide this service, we will make it available.

Q: Can CHECK SECURE™ deposit checks directly in my bank account?

Depositing funds directly in a bank account requires a Merchant to provide us with financial statements, excellent credit, and a substantial number of transactions per day. High volume merchants who are financially stable and have excellent credit, can receive this service from us.

Q: Is it possible to have funds guaranteed for a check that is submitted by a customer?

Guaranteeing funds on a check requires a much higher processing fee consisting of a percentage of the face value of the check. Our experience to date has shown us that very few checks do not clear the bank and our Merchants would rather have the low processing fees than have to pay a percentage of every transaction for check guarantee.

Q: How concerned should I be about recieving NSF (Non Sufficient Funds) checks?

Our Merchants offer goods and services that customers want to purchase. Our experience has shown us that customers are very careful in providing the proper information regarding their check transaction. We have error checking and other controls in place that assist us in capturing the proper information from each check transaction submitted to us. NSF checks are very rare and if you are concerned, do not ship any merchandise or provide your service until the customers check clears your bank. NSF checks are very rare and you need to protect yourself as NSF checks can be a cost of doing business just as credit card fraud can be.