ACH/Check Conversion Services * – Electronic check processing and conversion service

ACH/Check Conversion Services enable businesses to electronically process consumer checks received as payments.  This Internet-based system uses a check scanner and merchant portal to capture MICR information and a digital image of each check.  Once the dollar amount is entered and account information verified through a real-time gateway, the payment is securely processed through the Federal Reserve’s ACH network, which is the same network commonly used for direct deposit of payroll funds.  Funds are withdrawn from consumer accounts the next business day and deposited into the businesses’ accounts within one to three business days.  ACH/Check Conversion Services eliminate many of the processing costs and inherent risks associated with processing paper-based checks, and saves time by reducing the number of over-the-counter deposits. 

* Provided by Jack Henry & Associates’ ProfitStars division