There has been a lot of chatter about online and mobile payments this year (and most recently with the huge success of Cyber Monday), and there are plenty of reasoning for it. More than ever your customers are flocking to their computers and mobile devices to pay their bills, buy your products and pay for your services. All from the comfort of their own homes. The often times forgotten, but extremely beneficial form of electronic payment is the electronic check. Here’s why it needs to be added to your electronic payment tool set.

How are you accepting payments?

Learn all the ways to accept online payments
Click here to access the FREE [Cheat-Sheet]

Lower Costs

The cost of an electronic check is much cheaper than that of a paper check. In fact, the average paper check cost is roughly $1.22, whereas an electronic check can cost $0.55. That’s more than 50% savings on each check that you deposit!

Convenience and Time Saving

This advantage of electronic checks may not be cost related (although time certainly is valuable), but may in fact be one of the most attractive benefits.  No longer do you have to rely on paper checks given by your customers, only to lose them on the way to the bank or discover that the customer forgot to sign the back.

Security and Reliability

Electronic checks have the benefit of automation and the reliance of the ACH Network (regulated through the Federal Reserve’s Regulation E and the NACHA Operating Rules). The electronic check is far more secure than a paper check, with an encryption feature that verifies the account number, dollar amount, and even uses a digital signature to check against the name of the account.

Have you had success with electronic checks? Share your story with us in the comments below, and follow us on Twitter and Facebook.

Start a 14 day Free Trial and streamline your business with PaySimple:
Start My Free Trial

Mat Vogels

Mat Vogels

Hi there! I'm Mat, the social media manager here at PaySimple. I love all things tech and media, including in the areas of gadgets, startups, social media and marketing. Have any questions, or just want to chat? Feel free to reach out! You can find him on

More Posts - Website - Twitter - Facebook - LinkedIn - Google Plus