We need to talk about electronic checks for a moment.
As much as our world has become paperless, we still use checks every now and again.
Chances are whether you own a retail store, restaurant, or a service company; you still have to take a few paper checks.
That doesn’t mean you have to process paper checks like it’s 1950 anymore.
There’s this thing called electronic check processing
Electronic check processing lifts some of the frustrations of having a pile of paper checks to sign and take to the bank.
Many credit card terminals come with a slot for processing checks electronically into them. If not, electronic check processors basically run for similar pricing for a credit card terminal.
The check once scanned, is voided and handed back to the customer, and the paper check information is processed through your merchant service provider’s gateway.
But there are some who are resistant to electronic check processing….
Look, we’ve heard every excuse under the sun about why you don’t want to process checks electronically. So we can tell you with confidence, after all those arguments, you need to accept electronic checks.
Unless the reason you want to keep taking checks is because you enjoy a slow tedious process, then we may not be able to convince you.
Let’s talk about those objections
Over the years, we’ve heard all sorts of reasons why people don’t want to make the switch to electronically processed checks. Here are the most common:
“I can just drive to the bank.”
“Physically depositing the checks doesn’t cost me a dime!”
Electronic checks do cost a very small transaction fee to process through your credit card processor’s gateway. However, it costs less than a credit card transaction would.
We’ve had several people say they would rather drive to the bank to save a few cents. This kind of “nickel and diming” still costs business owners in the long run. Honestly, it’s not worth your time driving to the bank to deposit paper checks.
People often forget the age old saying “Time is money.” Wasting time taking unnecessary trips to the bank costs you valuable time from your day.
Let’s make the assumption it takes you 15-30 minutes in a single day to leave work, and drop the checks off at the bank to be deposited. Do you really want to waste any of your precious time driving to and from the bank, waiting in line for the next available teller?
With electronic checks, simply scan the check and void it. That’s it. The payment is at that point treated like a credit or debit card payment and processed through your payment processor gateway. You don’t even have to have the paper check sitting in your cash drawer cluttering it up.
No longer do you have to keep tons of paper checks lying around (unless you love throwing them up in the air and rolling in them).
Processing electronically save you time and money!
Don’t waste your day sorting checks and driving to the bank.
Simplify your life by switching to electronic check processing. Your time is worth more money than nickel and diming your way to savings.