[ryan $]

I know a firm who facilitates these types of transactions. They also do this for PayDay loans. It's all done automatically with their software.

If done properly, it might be slightly more expensive, but due to the ACH rails that are not so forgiving on the bounces and one could lose their bank account, it might be worthwhile to "spread the risk" and do some of it this way. I don't think it's really check drafts, it's actually some other rails that doesn't cost $25/bounce like a standard bounced check costs.

Also, it might be a funder who doesn't have a bank that can do it, and the ACH people might need better credit, history, volume, etc etc etc.

Not so crazy, just more creativity, which is why the non-bank finance industry is so incredible!

But why though? Setting up Credits and Debits via a Debit Card is soooooooooooo much easier. API exists on many platforms.

Check drafts just make no sense to me, at all. You can see in the bank account the cancelled checks, its actually checks, digitally printed with no signature.

[SFC]

But why though? Setting up Credits and Debits via a Debit Card is soooooooooooo much easier. API exists on many platforms.

Check drafts just make no sense to me, at all. You can see in the bank account the cancelled checks, its actually checks, digitally printed with no signature.

People collect daily payments via debit card?

[ryan $]

People collect daily payments via debit card?

You can Fund and Collect Via the Business Debit Card. There are Pluses and Minuses.

[SFC]

You can Fund and Collect Via the Business Debit Card. There are Pluses and Minuses.

I get the plusses. What are the minuses?

[ryan $]

I get the plusses. What are the minuses?

Pluses for Debit Card - Minuses for Check Draw. Minuses would be chargeback happening a month later