Accept More Payment Methods through Check 21

Save time and reduce late payments with the convenience of check 21 processing.

Check 21 offers many of the advantages of processing checks electronically through ACH. However, check 21 also offers several advantages over ACH Payment Processing:

Reduce Chargeback Risk with Check 21 Processing

The most important benefit of high risk Check 21 is the reduced chargeback period when compared to ACH and credit cards. ACH has a dispute window of 180 days, but the dispute window for Check 21 is HALF that amount of time. It is only 90 days. This helps reduce the risk of fraud.

Accept More Payment Methods through Check 21

With ACH processing, consumer checks are the only eligible transactions. Check21 can process business checks, personal checks, cashier checks, and money orders can be processed. If you can accept more payments, you can accept more customers, which can increase sales.

Receive Money Faster with Check 21 Processing

ACH payments must go through a broker before the funds are transferred to you. Check 21 is processed directly from bank to bank. Your funds can be received the same day when processed during business hours.

How Does Check 21 Processing Work?

The Check 21 law allows the banks to process checks electronically. Check 21 guidelines permit banks to truncate original checks, process the check information electronically and send substitute checks to receiving banks. The substitute check is the legal counterpart of the original check, as it includes all the information contained on the original check and is considered an acceptable proof of payment. Even the IRS accepts the substitute check as a proof of payment.

As a Check 21 processor, our powerful proprietary system is used by many merchants and works instantly over the web to relieve you of the hassles of paper checks. Your website will be connected to our Check 21 software via the Application Program Interface. If your customers want to pay by check for the product or service available on your website, they can enter their checking account details online, give their acceptance to the purchase total and authorize the online check payment.

As soon as the transaction is approved through our proprietary scrub and verification system, our Check 21 software creates an image of the substitute check and transfers it to your clearing bank for deposit. The check will clear within a few days. You can accept any checks drawn on U.S. depository accounts from anywhere in the world. GFC Financial lets you submit and clear check transactions online automatically, saving you a lot of time and money.

Let GFC Financial take care of your Check 21 Payment Processing so you can start accepting check payments today.