| 1) |
Is it legal to accept checks by phone, FAX or
online? |
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It certainly is! You won't be the
first company using ChekFaxx. Federal banking
regulations and the Uniform Commercial Code permit this
process of producing bank drafts. Top |
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| 2) |
What kind of computer and printer do I need to use
ChekFaxx? |
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An IBM PC compatible computer, using
Windows Windows NT4.0, Windows 2000, Windows ME or Windows
XP. It is recommended to use a Hewlett-Packard compatible
laser printer to print the bank drafts. ChekFaxx has many
users who use ink and bubble jet type printers. Top |
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| 3) |
Can I use ChekFaxx for Canadian customers? |
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At the present time Canada does
have banking guidelines in place for processing bank
drafts such as those produced by ChekFaxx who use the US Banking System. Top |
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| 4) |
Where do I get blank checks and how much are they? |
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You can order
additional blank checks as
you need them right from ChekFaxx, in quantities from
500 to several thousand at one time. An order of 500
checks (minimum order) costs just $45 or 9 cents a
check. An order of 4000 would reduce the per-check cost
to 6.25 cents each. (Several of our customers who sell
online or on BBS boards charge a service fee of $2.00 to
handle check transactions. The choice is yours, of
course.) Prices do not include shipping. (Continental
USA only) Top |
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| 5) |
Why are the checks in an 81/2 x 11 format? |
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The blank check consists of three
parts. The upper third is the check itself. The bottom
third is used as a Check Authorization Notice that you
mail to your customer to inform them that a duplicate
bank draft was created and deposited as authorized by
them for this transaction. The middle third is a
non-negotiable copy of the check , for your audit
trail.. Keep this section as a record of the
transaction. Top |
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| 6) |
Do I have to use special toner in my laser printer? |
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The MICR characters at the bottom of
the check must be readable magnetically, even though
much of the banking industry is now using optical
scanners. All laser toners have magnetic qualities, but
the level of magnetism is low. Laser toner with high
magnetic qualities (called MICR toner) is readily
available, although not at your local office supply
store. You can try a work-around: Just before printing
checks on your laser printer, increase the toner
intensity to a high level. If your bank notifies you of
a problem, then you will need to purchase MICR toner for
your laser printer. ChekFaxx has MICR toner
cartridges available for many popular laser printers.
Top |
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| 7) |
What does MICR stand for? |
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MICR stands for Magnetic Ink
Character Recognition. These are the numbers you see at
the bottom of every check. Electronic scanners read the
printed magnetic qualities of these numbers to process
the check. Top |
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| 8) |
Is it safe to give account information over
the telephone? |
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It is just as secure for your
customers as mailing a check directly to you. You would
have exactly the same information, wouldn't you? Top |
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| 9) |
Are there any special laws I need to comply with in
using ChekFaxx? |
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YES! On January 1, 1996 a new law
became effective from the Federal Trade Commission. Any
telemarketing firm accepting check information over the
telephone, FAX, or other electronic means, must have a
verifiable procedure in place. Any of the following are
acceptable procedures for producing customer bank
drafts:
1. Receive written authorization
from your customer by fax or mail.
2. Tape-record the authorization
with your customer's knowledge and approval.
3. Mail out written notice to
your customer prior to depositing the check in your
bank account. Notice must be in the mail prior to you
making the deposit.
ChekFaxx complies with item #3.
By simply mailing the Check Authorization Notice portion
of the printed check to your customer prior to
depositing it for collection, you are meeting the above
requirement of the law. Top |
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| 10) |
How will accepting checks improve my sales? |
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Customers may not have a credit card
or they have reached or exceeded their credit card
limit. They may be saving the credit card funds for
other needs. These factors will cause them to put off a
purchasing decision. If you offer payment by check,
there is one less obstacle to completing a sale. Top |
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| 11) |
Dont customers prefer the convenience of paying
by credit card? |
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In general, customers prefer not to
incur debt. The only reason many people use a credit
card for a telephone or online purchase is because
that's generally the only way they could! Top |
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| 12) |
Dont customers impulse buy more often with
credit cards then checks? |
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Not true! If the funds are available
in their checking account, there's no reason not to buy
from you right now! Besides, you save on merchant
discount fees on credit cards every time you accept a
check. Top |
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| 13) |
Are online checks just as "valid" as
checks received by mail? |
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Yes. Just treat an online check as
you would a check you received by mail: hold the order
until the check clears, call the bank and verify if it's
a large amount. Top |
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| 14) |
What if my business model is Business-to-Business
vs. Business-to-Consumer? Would ChekFaxx work for me? |
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Business-to-business purchasers
strongly prefer to pay by check! Check payments are more
common in all business transactions than credit card
payments. Top |
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| 15) |
I have always shipped C.O.D. Why would I switch to
ChekFaxx? |
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Because you will have no more
returns because they were unpaid or undeliverable.
Now you can be paid up front! Top |
