ACCEPT CHECKS RISK-FREE WITH SYNERGY CHECK SERVICES.
ACCEPTING CHECKS CAN GROW YOUR BUSINESS.
Every year there are over 6 billion consumer checks written at the point of sale. However, many merchants will not accept checks therefore are not getting any of those 6 billion transactions. Why? Some merchants feel accepting checks just isn't worth the risk of getting a "bad check." Perhaps it is the higher fees associated with processing checks, the bank fees associated with submitting a check multiple times for payment or just the hassle of totaling checks.
WITH SYNERGY, CHECKS ARE JUST LIKE CASH!
SBG will find a processor that offers electronic check conversion with a guarantee that gives the merchant the ability to completely eliminate 100% of check risk. Merchants will never know when a check "goes bad" or even if the account has been closed. Merchants will always get their money!
There are no claim forms to fill out. No more totaling checks. No more depositing checks. No more check deposit fees. No more NSF charges. There are no phone calls to collect on checks.
Even if it is a temporary check or an out of town check, merchants can be assured that there funds are secure. Merchants will never have another bad check.
THE FLOW OF FUNDS:
-The customer writes a check.
-The check is run through a digital check imager. The scanner instantly captures an image of the check and electronically verifies the codes at the bottom of the check.
-These electronic codes are sent to a processor and are checked against a comprehensive database of checks and check writers.
-The check approval is electronically transferred back to the point of sale terminal and an authorization slip is generated.
-The point of sale terminal prints an authorization slip for the customer to sign. This is required for the bank to collect funds from the customer's bank account.
-The customer is given a copy of the signed authorization slip and their check is given back, now stamped "ACH PROCESSED".
-Transaction information is stored inside the digital check imager. At the end of the day, when all transactions are batched out, this information is sent out for settlement in the same manner as the merchant credit card transactions.
-Funds are then electronically transferred into the merchants account.
-These transactions will appear on the customer's checking account statement, as well as the merchant processing statement.