Since checks are still a popular form of consumer payment, refusing them all together may be cutting out a slice of the proverbial pie ― a slice of profits that is. Additionally, checks are more cost-effective for merchants with low-profit margins when compared to the high cost of card processing fees. By accepting checks, however, merchants run the risk of having checks returned which equates to money lost. Every bit of revenue counts when running a business, so returned checks are not anyone’s cup of tea. This is where check guarantee companies come into play.
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