CrossCheck Blog

Though the use of paper checks has declined, check payments still accounts for more than $27 trillion according to the Federal Reserve . While credit- and debit card payments have steadily increased, they come with a fee - most often around 3 percent - and many merchants and retailers are opting to pass that cost onto the consumer. But with innovative payment solutions like Mobile Pay and ACH Pay-by-Link, merchants can take advantage of low-cost options that can save thousands of dollars by circumventing prohibitive credit card fees.

There are a myriad ways to deposit checks for your goods and services but how do you get your money the fastest? In many ways, it depends on your bank. However, there are financial tools that will speed up the time it takes before the money actually reaches your account and that is where CrossCheck comes in. CrossCheck has multiple services that ensure the work you completed, or the goods you sold, are paid for. Paired with our Check Guarantee premium, you will never be left with an unpaid bill.

Nurturing loyal customers and maximizing repeat business is crucial for long-term success. One effective strategy for acheiving this is with ACH payments and CrossCheck's ACH Pay-by-Link solution is the perfect option for merchants. Whether you own an auto repair business, a veterinary clinic, a wholesale building supply yard, or almost anything in-between, repeat business is your bread and butter. A car will always need work, a contractor always needs building supplies, and a pet always needs checkups, flea and tick medications, shots, etc. Inherent in all these businesses is trust, familiarity and convenience; in other words, once customers feel these comfortable feelings, they will usually return to the same merchant for years. With CrossCheck's ACH Pay-by-Link service, all measurable qualities required for repeat business are checked off.

Verify and guarantee a check instantly with CrossCheck! CrossCheck has developed a model for cost-effective and fast Check Verification and Check Guarantee that has attracted and made clients of the largest auto-dealer chain in the country, as well as some of the nation's largest veterinary chains, restaurant supply chains and natural gas delivery services. Our Check Verification and Check Guarantee services are an ideal option for all purveyors of goods and services, and especially for any business that operates on tight margins - which these days includes anything from auto dealers to grocery stores - where credit card fees will quickly turn cost prohibitive.

Mobile check verification is the perfect way for a multitude of merchants and entrepreneurs to accept checks using a mobile phone or smart device. Imagine it’s Black Friday and the furniture store has slashed prices by as much as 50 percent in many cases. People have lined up in front of the store waiting for the doors to open. A woman is hoping to be the first to get her hands on the brown leather La-Z-Boy her husband has been eyeing for weeks. She’s not the only one.

Mobile Pay is the perfect way for merchants and entrepreneurs to accept checks using a mobile phone or other smart device. The CrossCheck app will turn any smart device into a powerful POS solution, allowing any business to quickly and securely accept a paper check by simply taking a photo of the check and depositing it remotely. Whether you have a brick-and-mortar location or you are a mobile merchant or service provider, CrossCheck’s Mobile Pay will come along for the ride.

Benjamin Franklin coined the term, “Time is money” in his essay ("Advice to a Young Tradesman"), written in 1748. Saving time to increase sales and revenue was true in the 1700s and is still true today. One of the best ways to save time and money is to deposit your check payments faster. Depositing paper checks can be time-consuming when done manually, it takes time to annotate the books, record the transaction, and take the checks to the bank. During each of those steps, you are burning valuable time and losing potential revenue. So, what’s the truth about how you can speed up a check deposit? Processing your checks electronically is the answer! Electronic Check Processing software is designed for businesses to quickly accept and receive guaranteed funding at the point of sale. CrossCheck, Inc. makes it easy to get started, with available 24/7/365 customer service and loaner equipment at no extra charge.

Among the many queries received by the CrossCheck team, “How do I recover an NSF check?” is one of the most frequent. But, before going any further a definition is in order. An NSF check (aka “non-sufficient funds check”) is a term used when the holder of a checking account is overdrawn and there is not enough money in the account to pay the check written against it. As a merchant, this can pose a problem when accepting checks. Attempting to deposit a check without sufficient funds will result in the bank returning it unpaid. Also, returned checks can come with the additional consequence of added bank fees. Whatever the cause, NSF checks will cost your business money. NSF checks can happen for many different reasons, but whatever the cause, NSF checks will cost your business money.

Accepting checks is a preferred payment type for many merchants — especially those selling big-ticket items — and is a reliable tool for increasing sales and widening customer reach. Accepting checks is one thing, but deciding how to accept check payments safely is another. That is why many merchants choose payment solutions like CrossCheck’s Electronic Check Processing to securely accept, process and deposit checks into their business accounts without leaving the office.

Imagine a world where businesses and consumers could scan checks, upload the images via the web, and quickly determine if the checks are valid. Better yet, imagine if those same stakeholders could continue the process by depositing the checks, all without visiting a bank or leaving their offices. It could be a foolproof system, but on this date, April 1, (aka “April Fool’s Day”), the reality is that free online check verification doesn't exist ― never has and probably never will.