What’s a Guaranteed Check?
Merchants shouldn’t be financially hurt by accepting rejected, returned or bounced checks. This can be achieved by ensuring that check guarantee services offer checks safeguards to protect merchants against any checks-related losses.
Crosscheck’s goal is to offer quality, efficient and affordable check processing and acceptance solutions for different sectors and merchants. Merchants have the option to offer additional check options to their customers, which is a benefit for their business. Crosscheck also allows your competitors to opt out of the checks.
How does the Guarantee on Checks work?
Crosscheck offers two types of Check Guarantee services.
Merchants must authorize checks at points of sale via phone, terminals or Crosscheck online before making a Standard Check Guarantee deposit. Merchants who have cleared checks from their banks, but have not received payment must return the checks to Crosscheck for reimbursement.
Check imagers can be used by businesses to identify checks and submit them via the internet to Crosscheck. This service allows merchants to receive money within two days, without the need to travel. You can use converting software to process electronic cheques or remote deposit capture (RDC).
Which Companies Use the Check Guarantee?
Automobile, auto parts, motorbike, and construction/rehabilitation trade retail outlets and medical and veterinary clinics are some of the businesses that utilize the Check Guarantee service.
The Advantages of Guaranteed Check Payments
Check Assure helps you save money and increase your sales volume. Check Guarantee offers the lowest rates on checks accepted in the market. This allows Check Guarantee to offer the most affordable card processing options.
You can check the benefits of Guarantee:
- You can accept checks from anywhere in the country, including the Canadian provinces and territories.
- Promotional account setups should include both equipment programming and personnel training.
- You’ll have access to technical assistance 24/7, no matter what time it is.
- Optional upgrades offer additional security, versatility, and personalization.
- Equipment loaners are also available as a complimentary service.
Cash is rarely used for large-dollar transactions in today’s corporate climate. Most purchases are made with a credit card, debit card, or a check. This determination can only be made by drawee banks while the customer is at the teller’s counter.
This is because customers are not allowed to pay for items they have purchased, such as vehicles, furniture, or house repairs. There are many scenarios that could arise because businesses accept cheques with reasonable care and assurance that the checks may be genuine. You can get guarantee services.
You should look for services that provide protection against loss, such as guarantees that protect individuals from losses and protect merchants from the possibility of receiving returned checks that could lead to their bank losing money.