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

  • CBR (Cross Border Payments)

    A standard entry class code used for the transmission of corporate cross border ACH credit and ACH debit entries. The CBR format accommodates the exchange of information...

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  • Merchant Account

    An account opened through a payment processor or financial institution that allows payees to accept credit card payments from a payer.

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