In the case of electronic payment processing, check writers have 60 days to claim a transaction as an unauthorized charge. If a transaction is claimed as unauthorized, TeleCheck will research the dispute and attempt to resolve it with the check-writer’s bank. In doing so, TeleCheck may request a copy of the signed TeleCheck ECA receipt from you.
You will receive funds in your bank account typically within two business days from when you close a batch.
It is important that you close your TeleCheck ECA batch at least once a day. TeleCheck cannot send you the funds from TeleCheck ECA transactions until we receive a batch.
Follow all regular TeleCheck warranty requirements and keep the check for bank deposit.
Yes, signing a TeleCheck ECA receipt is the same as signing a credit card slip. The consumer’s signature is what authorizes TeleCheck to present the check electronically to the consumer’s bank so the money can be transferred to the business account. TeleCheck ECA receipts must be retained by the business for two years.
The TeleCheck ECA service benefits the consumer by returning their paper check to them immediately—and the private information contained on the check. Your check-writing consumers will generally still have the same amount of time before their check is presented to their bank (about two days). The electronic transaction will appear on their bank statement, with the date the check cleared,…
No. Traveler’s checks, money orders or non-Demand Deposit Account (DDA) checks cannot be processed by the TeleCheck ECA service. In addition, some business checks cannot be accepted.