What is an eCheck ?
| Electronic Checks |
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An eCheck is an electronic check. You send one like you send regular checks - without the paper, envelope and stamp. When you send an eCheck, we debit your bank account for the amount you are sending. The recipient can accept the money in "pending" status until the funds clear your bank (about 4 business days). If the money doesn't clear for any reason (e.g., insufficient funds), then the transaction is cancelled and both parties are notified via email. What is an eCheck Express? An eCheck Express is just like a regular eCheck, except the recipient of the payment can use the money you send immediately, rather than waiting for it to clear. In order to send an eCheck Express, you need to guarantee the eCheck with a linked credit card. If your eCheck bounces, your credit card will be charged and an NSF fee of $10 may apply. |
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