Results 1 to 6 of 6
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06-13-2021, 09:07 PM #1
- Join Date
- May 2019
- Posts
- 12
Need a bank for e-check processing for moving broker
I have a client looking for a BANK who will allow e-check processing through seamless and will take on a high risk account.
Risk is mainly Ins funds, wrong acct/rtng#'s and stop payments. Chargebacks are around 10%.
Not looking for cc processing. Strictly ACH. Prefer to deal with someone who has a good relationship with a small to midsized bank
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06-14-2021, 11:32 AM #2
- Join Date
- Mar 2014
- Location
- Florida
- Posts
- 2,993
NACHA Regulations would not allow for a 10% CB - Why are they CB's so high and find a methods to eliminate them,
is a better solution. Even a settlement account will not allow a 10% Return Rate.
Stop Payments are technically the consumer charging the merchant with Fraud, which is a felony.
Your merchant needs some guidance in changing their procedures.
Contact me if you wish to discuss.
BTW - there is a method for your moving broker to collect $$$ without using checks or credit cards.Dave Lambert, Business Development
dave@fcbankcard.com
Merchant Services Consultant
High Risk Merchant Payment Solutions
SBA 7(a) Loans & Short-Term Funding
T/VM: 727-291-7890
Office: 727-233-1111
Skype: fc-financial
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06-14-2021, 11:58 AM #3
- Join Date
- Mar 2014
- Location
- Florida
- Posts
- 2,993
This article may provide you better clarification for check processing.
Fin - NACHA’s 2021 rule: what does it mean for your business? (plaid.com)
Your merchant needs to come into NACHA compliance - which will greatly reduce the 10% CB Ratio.Dave Lambert, Business Development
dave@fcbankcard.com
Merchant Services Consultant
High Risk Merchant Payment Solutions
SBA 7(a) Loans & Short-Term Funding
T/VM: 727-291-7890
Office: 727-233-1111
Skype: fc-financial
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06-16-2021, 10:37 AM #4
- Join Date
- Jun 2017
- Posts
- 2,049
Seamlesschex has their own Validation.
Stop payments shouldn't be happening at such a high rate.
Also if your referring to using Seamless' Auto Deposit feature.... they only work with certain banks, and most likely a small midsize bank isn't on their list. Unless you mean something different when you say "Proccessing Echeck through Seamless" - Because if he was just Printing Checks and doing a Mobile Deposit (Like I do) It wouldn't have to be a bank that works with Seamless.
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06-16-2021, 01:32 PM #5
- Join Date
- Mar 2014
- Location
- Florida
- Posts
- 2,993
Regardless of how a check is deposited - Self Print & Deposit or via a ACH Method (possibly using a sweep account) No bank can legally tolerate a 10% Reject Rate,
regardless of the reasons Nacha Operating Rules | Nacha (nachaoperatingrulesonline.org
There are 85 Reasons a check may be returned:
Understanding ACH Return Codes - Actum ProcessingDave Lambert, Business Development
dave@fcbankcard.com
Merchant Services Consultant
High Risk Merchant Payment Solutions
SBA 7(a) Loans & Short-Term Funding
T/VM: 727-291-7890
Office: 727-233-1111
Skype: fc-financial
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10-29-2021, 08:15 AM #6
- Join Date
- Aug 2021
- Location
- USA
- Posts
- 16
Click the link below to get best services in affordable prices
https://emerchantpro.com/apply-now/
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