|Check Processing and ACH Rates|
eCheck Discount Rate: $0-$4,999.99 Transaction Volume $5,000.00-$49,999.99 Transaction Volume $50,000.00 + Transaction Volume
|0.98% – 1.74% 1.74% 1.48% 0.98%|
|eCheck Transaction Fee:||30 ¢|
|$10 – $20||$0|
If a check does not clear, the check is forwarded to the check collection center. Up to three attempts are then made to electronically debit the amount of the check, plus a returned check fee, from your customer’s bank account. This has approximately an 80% success rate, depending on industry.
If the electronic debit is successful, you are paid the full face value of the check. If the check cannot be electronically debited after three attempts, then a collection agency will collect the check, and you are paid 50% of what is collected.