Q. What is a check by fax?
A. A check by fax is a check received via fax with a signed authorization to be reproduced as a check
draft and deposited at the bank.
Q. Do all banks accept a check by fax?
A. Pretty much all banks do. Just present the check for deposit.
Q. Does the check by phone or email have the same process?
A. Yes.
Q. Can I still accept credit cards?
A. Yes but check by fax offers a competitive advantage over credit cards! No additional fees associated
with a check by fax deposit. It is a check!
Q. When funds are available to be used?
A. Depends on your bank's policy for any holds on general funds, out of state customers or new
accounts. It is a regular check, so it should not be more than their normal number of hours or days.
Q. What does it cost every time we deposit a Check?
A. It costs you nothing to deposit a check. It is a regular check deposit, unless your own bank charges
you for deposits, which most banks do not charge anything. Only ACH deposits have a fee associated with
it for transmitting a deposit electronically via the ACH Direct; the company that facilitates the processing
of those ACH transactions.
Q. How do you make money off of this besides the sale of the software up front? Is there
support that is paid for regularly?
A. Current annual fee is $99.00 per year for license renewal, any software updates and telephone
support.
Other Facts:
We provide software updates included in the first year's license fee. A license renewal fee of $99.00
includes telephone support and software enhancements.
ACH Processing
In order to process checks via ACH, customer must be approved via ACH Direct. ACH Direct facilitates
the processing of the transactions. There is an application fee, monthly fee and a per transaction fee.
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