POS Check Conversion

 

SPS supports over 3,000 Grocery stores and Convenience Stores for Electronic Check Conversion.

Imagine a check transaction that feels like a credit card transaction! After scanning your customer's check an image of the check is instantly stored in the check reader/imager.  A receipt is printed from the terminal which the customer signs allowing for ACH funds transfer.  You hand the check back to your customer and funds are credited to your account within 48 hours!  Now you can eliminate going to the bank and worries about losing or having your check deposits stolen. Plus, you get rid of costly deposit item charges, bad check fees, banking time & effort, deposit ticket costs, & cash flow delays. Here’s how it works:

Your customer hands the cashier their check:
  • You enter the requested data into a point of sale terminal
  • You slide the check through the check scanner or imager

In less than 5 seconds an electronic transaction request is transmitted for approval, a receipt is printed which the customer signs allowing for ACH funds transfer.

  • You hand the check back to your customer
  • Funds are credited to your account with 24 – 48 business hours
  • SPS offers both Warranty and Verification services for Electronic Check Conversion
  • Verification supports automated collection of returns and service fees through re-presentment
  • Save on individual deposit item charges, returned check fees, banking time & effort, deposit ticket costs, & cash flow delays.

To learn more about check conversion and how it can assist your business, click here or call 844-430-1281 to speak with a representative. 

What is the best risk management solution for your business? 
  • Define your risk factors.
  • Online risk versus customer present.
  • Which databases do I need?

 

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