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Mag-Tek
Check Reader |
Secure,
Complete Check Reading. |
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The EZCheck ECT program uses the same secure system to process checks that banks have used for years to transmit check funds from bank to bank. Merchants can now accept more checks at a lower net cost, and rely on the convenience of electronic funding directly to their bank accounts, usually within two banking days. As an added convenience for the merchant, the terminals print a Batch Report at Closing showing the number of check authorizations and voids for easy end-of-day reconciliation. When
a customer pays by check, you simply verify and write the required
information on the face of the check and run it through the check
reader to authorize the transaction. Once the check is approved, the
customer signs the authorization slip to complete the transaction
(just like signing a credit card receipt). Then, you stamp the check
"do no deposit" or "void" (so it can't be used
again), staple it to the signed authorization slip and place in your
cash drawer for reconciliation at the end of the day. The terminal
will automatically produce a second copy of the authorization slip
which is given to the customer, much like a credit card or ATM receipt.
A complete record of the transaction conveniently appears in the "electronic
debit" section of the check writer's bank statement for easy
reconciliation. All voided checks with attached authorization slips
are then mailed weekly to EZCheck in conveniently postage-paid, self-addressed
envelopes provided. |
THE
COMPLETE CHECK READING SOLUTION. |
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