An eCheck payment method, also known as a paperless check or electronic check, is a way to make payments online using your bank account information.
This type of payment can be used for many things including making purchases on websites like Amazon and eBay, paying bills, and even sending money to friends and family.
It’s easy to use and secure because you don’t need to give out any personal information when you pay with an e-check.
You simply enter the amount that you want to send and click “pay now”. Your recipient will receive their funds in just minutes.
In this article we shall take a look at what an eCheck is in more detail, and how it could benefit you.
How Do I Set Up My eCheck Payments Account?
To set up your eCheck account, you first need to have a checking account with your bank. The easiest way to do this is by signing up for direct deposit from your employer.
If you are self-employed, you should open a business checking account. This way you can easily track all of your transactions and keep records of your income and expenses.
Once you have opened your checking account, you then need to go to your bank website and log into your account. Once logged in, you will see a section called “Payments”.
Click on this section and you will see a list of options. One of these options is called “eChecks”. Click on it and you will be taken to another page where you can create your own eCheck account.
There Are Two Types of eCheck Accounts
You can choose between two types of eCheck accounts:
A Free eCheck Account
Thich allows you to send unlimited amounts of money to anyone. However, the good news is, as you are probably aware, there are no fees associated with this option.
A Premium eCheck Account
This gives you access to a number of features such as transaction limits, fraud protection, and other security measures.
The Premium eCheck option is usually only available if you already have a checking account with the same bank. If you do not have one, you may only be able to sign up for the free version of the service instead.
If you decide to sign up for a premium eCheck account, you will then need to fill out a form. On this form you will provide your name, address, email address, phone number, and other details about yourself.
After filling out the form, click on “continue”.
Selecting A Payment Method
Next you will be asked to select your payment method. There are three different ways to make payments via eCheck:
- Direct Deposit – In this case, your employer will automatically deduct your monthly salary directly from your checking account.
- Bill Pay – With this option, you can schedule recurring payments to be deducted from your checking account every month.
- Credit Card – You can use your credit card to make payments. However, if you only use one credit card, it might not be possible to add more than one eCheck account.
When you have selected your payment method, you will be given a unique code. This is your login ID. It will allow you to log into your eCheck account whenever you want to make a payment.
When you have finished setting up your eCheck account you will need to print off the confirmation letter that was sent to you by your bank. Keep this letter safe.
It contains important information such as your username and password.
How Can I Make An eCheck Payment?
Now that you know how to set up your eCheck payments account, let’s take a closer look at how you actually make a payment using this service.
To make a payment, simply enter the amount you wish to pay into the box provided. For example, if you wanted to pay $100 to someone, you would type 100 into the box.
Then click on the button labeled “pay now”. Your bank will then process the transaction immediately.
How Do I Know That My Payments Are Being Processed Correctly?
It may seem like a good idea to check your bank statements regularly to make sure that your payments are being processed correctly.
Unfortunately, this isn’t always possible because many banks don’t give their customers regular updates regarding the status of their transactions.
However, there are some things you can do to help ensure that your payments are going through successfully.
First, try contacting your bank or financial institution directly. They should be able to tell you whether any problems have occurred with your payments.
If they cannot answer your questions, you can also contact the company that handles your direct deposit.
You can find this information in the confirmation letter that was emailed to you when you first signed up for your eCheck account.
Can I Use My eCheck Account To Make Recurring Payments?
Yes! When you create your eCheck account, you can choose to make recurring payments. These types of payments are ideal for people who receive regular income.
For example, if your job pays you bi-weekly, you could set up a recurring payment to be taken out of your account each week.
This way, you won’t have to worry about remembering to make a payment every two weeks. All you have to remember is to make one payment once a month.
eCheck accounts are very convenient, and they are also easy to manage because you don’t have to go through the hassle of printing checks and depositing them into your checking account.
The main drawback of eChecks is that they aren’t available everywhere. If you live outside the United States, you may not be able to access eCheck services from your local bank.
However, most major U.S. banks offer eCheck services so it shouldn’t pose too much of a problem.
In order to use eCheck, you must have a valid email address and a bank account. You can sign up for free at www.echeck.com.
To learn more on this topic, visit our merchant knowledge hub.
Paul Martinez is the founder of EcomSidekick.com. He is an expert in the areas of finance, real estate, eCommerce, traffic and conversion.
Join him on EcomSidekick.com to learn how to improve your financial life and excel in these areas. Before starting this media site, Paul built from scratch and managed two multi-million dollar companies. One in the real estate sector and one in the eCommerce sector.