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

  • On-Us Entry

    Occurs when both the receiver and originator of a transaction have depository accounts at the same depository financial institution.

    Learn More
  • Regulation E (Reg-E)

    Regulation E details procedures for the processing of electronic funds transfers (EFTs) in addition to debit cards.

    Learn More