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.
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
2. Larger Sales - Increase Impulse Buying!
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.
3. More Satisfied Customers!
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
4. Happier Employees
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
5. Other Important Benefits!
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!