Frequently Asked Questions
Find the most frequently asked questions below:
01Are electronic checks processed immediately?
E-checks and electronic payments typically take 24-48 hours to clear the payer's bank and for the funds to show up in the payee's bank account. This quick timing is beneficial for both parties to the transaction. They need to deposit the check to their bank and then the bank sends it through the check clearing process.
02How does electronic check payment processing work?
Setting up the payment: payment information is fed into the online payment processing software. Payment confirmation and fund transfer: the payment is withdrawn from the payer's bank account and is deposited in the payee's bank account. It happens automatically, and a payment receipt is also sent to the payer.