Like many things, the way we make transactions today looks much different than it did a century, decade, or even a year ago. From the bartering days of medieval periods to the contactless mobile payment systems of the present, it can be hard to stay on-trend with today’s transaction types.
eChecks, also known as electronic checks, are a payment method designed to facilitate online transactions securely.
In this post, we’re taking a closer look at how eChecks work, their pros and cons, and how your small business can start accepting eChecks as a form of payment.
Read on to learn the ins and outs of eChecks, or use the links below to navigate to the section that best covers your question.
- What is an eCheck?
- How does an eCheck payment work?
- The eCheck process
- eChecks vs. ACH payments: What is the difference?
- How long do eChecks take to process?
- Should your business accept eChecks?
- The benefits of eChecks
- The drawbacks of eChecks
- How to accept eChecks in your small business
- Security considerations to keep in mind when accepting eChecks
- Final notes