E-Check (or echeck)

E-Check payments are ACH payments that originate via the internet, telephone, point-of-sale (POS), or bill payment sent through the mail or unattended lockbox. For mail and lockbox payments, the paper check is not deposited, but converted into an ACH debit. Learn more about e-check payments here.

Related Terms

  • OCR (Optical Character Recognition)

    A technology that enables you to convert different types of documents into editable and searchable data.

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  • SHR (Shared Network Transaction)

    A one time debit entry to the account of a receiver where the entry is initiated at an electronic terminal. The entry is initiated into a shared...

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