No matter how you receive and process checks, you will save time, save money, reduce hassle, and increase accuracy with Intuit Check Solutions. Learn about our solutions below, or speak to a Sales Consultant.
- Process Checks Anywhere, Online
- Convert Checks at Point of Purchase
- Scan or Enter Checks Right into QuickBooks
How are electronic checks processed?
Automated Clearing House (ACH) is a method introduced in the 1970s as an alternative to traditional check payments, and has been used by merchants to collect funds electronically by using account information from a customer’s paper check payment. These checks are used to create electronic payments that are processed through the ACH, a secure network used to connect banks to each other.
The Check Clearing Act for the 21st Century (Check 21) was signed into law by President Bush October 28, 2003, and became effective October 28, 2004. Check 21 allows banks to replace original paper checks with “substitute checks” that are made from digital copies of the originals.
Check 21 was created to reduce the time, risks, and costs associated with paper check processing. With Check 21, banks are now able to send and receive digital images of checks electronically, eliminating the need to physically transport paper checks between banks, or between merchants and banks.
How does check scanning work?
Check 21 allows you to scan checks for submission to your bank, using Remote Deposit Capture. Intuit Check Solutions for QuickBooks was built to support check scanning, but you can also accept checks by phone, without a scanner. Your customer reads you the account and routing numbers and account type over the phone, you enter it in a short form, and you send it for processing. Easy.
Where can I learn more about ACH, Check 21, and Remote Deposit Capture?
Here are some independent resources that explain the Check 21 legislation, remote deposit capture, how it affects consumers, and more.
