Check Services
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1-855-55SWIPE
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How does Check Conversion / Guarantee work?
What happens if a check bounces?
If the transaction doesn't clear, Global e Telecom (GETI) collects the
amount. You are not even notified. As a busy merchant you don't
have to hassle with returned checks, chasing down deadbeat
customers, or incurring large NSF fees normally charged by your
bank. Once the check was approved at the point of sale it becomes
the responsibility of Global e Telecom (GETI). You remain fully
funded (except in the case of stop payments) and there is no
interruption to your cash flow.
What is the average cost to the business owner?
There is a cost of 1.25% with a .20 cent transaction fee. Each
business owner has a $10.00 monthly fee. Also, you must process
at least $10.00 monthly.
Brief Summary
1. Accept All Personal Checks - More Sales Now!
- The customer writes a preprinted personal check to purchase
items. - The check is run through the check imager/check reader
which reads the encoded information (MICR line) at the
bottom of the check. This device is attached to your credit
card terminal. - You will then swipe the customer's driver's license when it
contains a magnetic stripe or manually key in their driver's
license number or state ID. - Next you will key in the dollar amount of the sale.
- The customer will sign the approved original authorization
receipt from the printer and a copy is provided to the
customer. Should the check be declined it is because there is
current negative information in the database and then the
check writer is referred to call a customer service rep who is
experienced at handling that type of inquiry with tact and
diplomacy. - You will then hand the check back to the customer for him to
keep. You should mark the check "Void" or other suitable
language to prevent duplicate processing. - At close of business, you will transmit all transactions in a
batch for settlement. - Global e Telecom (GETI) informs both the customer's and
merchant's banks of the transaction and the funds are
electronically transmitted to the merchant's business
checking account, just like any credit card sales. - The transaction appears on the customer's bank statement,
your merchant business checking account statement, and a
separate monthly statement mailed to you each month by
Global e Telecom (GETI) or you can use the online merchant
management center.
What happens if a check bounces?
If the transaction doesn't clear, Global e Telecom (GETI) collects the
amount. You are not even notified. As a busy merchant you don't
have to hassle with returned checks, chasing down deadbeat
customers, or incurring large NSF fees normally charged by your
bank. Once the check was approved at the point of sale it becomes
the responsibility of Global e Telecom (GETI). You remain fully
funded (except in the case of stop payments) and there is no
interruption to your cash flow.
What is the average cost to the business owner?
There is a cost of 1.25% with a .20 cent transaction fee. Each
business owner has a $10.00 monthly fee. Also, you must process
at least $10.00 monthly.
Brief Summary
1. Accept All Personal Checks - More Sales Now!
- Out-of-town or Out-of-state
- When the bank is closed
- The customer doesn't meet your ID requirements
- First time customers
- When you're not sure
- When there is no one in authority to approve the check
- A check makes all the customers liquid assets available
- Funds are often transferred from savings accounts, money
market funds, etc. after the purchase - Checks increase customer's available "on-hand" cash assets
- Over 50 million people do not have a credit card and those
that do are occasionally at their limit.
- Makes check acceptance a positive experience for the
customer - Customers will find it easy to make an initial purchase and will
return to buy again - Good word of mouth advertising
- Our logo and signs eliminate the embarrassing question: "Will
you take my check?" - Speed up check out lines with electronic authorization and
check readers - Remove negative "No Checks" signs
- Eliminate employees taking the blame if the check is declined
- Simplifies and standardizes check acceptance procedures
- Make more and larger sales and profit through check
promotion - Eliminate hold or authorization time through electronic
processing
- A Competitive edge over merchants with restrictive check
policies - The guarantee rate is usually less than credit card rates
- The authorization procedures are similar to credit cards
- Eliminate collecting returned checks
- With the new Check 21 rules checks usually clear the same
day which means more customers may have overdrawn
checking accounts. Without check guarantee in place you will
have more NSF checks and much higher bank fees. The
Global e Telecom (GETI) program eliminates this problem for
you!
| Electronic Check Conversion at the Point of Sale |
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| Phone & Fax: 1-855-55SWIPE (1-855-557-9473) Fax: 979-530-9533 (Toll Free) Email: office@brazosvalleymerchants.com |
