What Is The Electronic Check Transfer (ECT) program?
The EZCheck Electronic Check Transfer (ECT) program is a revolutionary process that converts paper checks into electronic items at the point-of-sale. The electronic item is then processed through the Automated Clearing House (ACH) and funds are automatically deposited into the merchant’s bank account, cutting paperwork and helping to improve cash flow. The Electronic Check Transfer program combines the benefits of paper checks with the speed, safety, and ease of electronic money movement and delivers a streamlined check acceptance program for the merchant. The program requires the check writer to sign a printed receipt authorizing the electronic transaction. A copy of the receipt is returned to the check writer (just like a credit card or ATM receipt). The check writer’s monthly bank statement will display the merchant name, amount of the transaction and settlement date. The ECT transaction is authorized and settled similar to credit card transactions. How Does The Electronic Check Tra
