MTech Distributors

TELECHECK

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Who is TeleCheck, and what does it do?

TeleCheck has been providing merchants and financial institutions with industry-leading check acceptance, check processing and risk analytics services for over 50 years. Thousands of businesses and financial institutions rely on us to safeguard them from check-related losses and fraud.

How does TeleCheck keep customers safe?

Fraud and identity theft are two of the most common crimes in the United States. Our dedicated team of experts assists merchants in accepting checks from customers in a safe and secure manner. This means that consumers are protected from unwarranted or criminal use of their checking account information whether they make transactions in person, online, or over the phone.

To learn more about TeleCheck, go here.

This site is dedicated to providing information and resources to consumers. To learn more about any of the topics listed in the green box on the right side of the page, click on it.

Do you want to accept checks with TeleCheck?

Contact us if you are a merchant interested in learning more about the products and services we provide.

What is the Process of TeleCheck?

Understanding how a retailer or other party (such as a utility company) can convert your paper check into an electronic "debit" that is deducted from your checking account will help you better manage your money. Find out more about TeleCheck ECA® (Electronic Check Acceptance).

Who is TeleCheck® and what does it do?

Thousands of shops and financial institutions use TeleCheck's industry-leading check acceptance, check processing, and risk analytics services. TeleCheck has been protecting businesses and financial institutions from check-related losses and fraud for nearly 40 years. Accepting checks has never been riskier; yet, with TeleCheck, shops may continue to take checks as a safe and secure payment option for in-store, online, and over-the-phone purchases.

What is TeleCheck ECA® Service?

At the point of sale, the TeleCheck Electronic Check Acceptance® (ECA®) service converts a paper check into an electronic item. The ECA service enables merchants to accept checks as easily, swiftly, and safely as they do credit cards. Consider it a cheque that isn't written on paper.

What is the mechanism behind it?

When you deliver your check to the sales clerk, it is authorized using a specially built, secure TeleCheck system that records banking information as well as the check's value. You'll receive an electronic transaction receipt to sign once the check is authorized. You will receive a copy of the receipt as well as your check to retain after you sign it. That's all there is to it.

What makes you think you need my signature?

The ECA receipt is comparable to a credit card slip in that it must be signed. By signing the receipt, you authorize TeleCheck to electronically present the check to your bank and deposit the monies into the business account.

When will the money be taken out of my account?

An ECA transaction is presented to the bank in the same amount of time as a paper check, usually one to two business days.

What will this look like on my bank statement?

The ECA transaction appears alongside ATM transactions and direct deposit payroll checks on your bank statement. The date the check cleared your account, the check number, the amount, and the location where the check was presented will all appear on the transaction.

Why do companies use TeleCheck's ECA service?

TeleCheck offers the TeleCheck Electronic Check Acceptance service to help businesses improve their efficiency, decrease risk, and boost productivity, all of which benefit you, the customer.

Is there a government agency that oversees this process?

Regulation E, which covers all electronic processing, such as ATM and credit card transactions, applies to this electronic process. Check writers have 60 days from the posting date to contact the bank in the event of an error or disagreement, the same time window they have today with paper checks.

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