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Electronic Transfer Information

Written by Patricia Tunstall
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Online Electronic Transfer Information

Electronic transfer information is most easily found online on the websites of merchant account providers. You can conveniently browse through informative websites at your leisure, return to read something that interests you, and print out an entire site for highlighting. Not only do you have access to all online companies that offer electronic payment processing, but you can do a merchant account comparison to find the best values.

Smart consumers gather all the answers they need to make a sound decision, and, fortunately, some websites are filled with electronic transfer information that is both thorough and easy to understand. Examine the services, rates, and equipment offered by each company to see what the charges are, and what is included free as part of the package. The best companies have excellent customer service departments and, if need be, you can contact them for answers to any lingering questions.

How It Works

Although check processing and credit card payment processing differ slightly, they both involve electronic systems that capture the payment information and transmit it to an authorizing center. This can be done for card-present, or in-person, transactions, or card-not-present transactions on the Internet, for instance. At any rate, approval or authorization is completed in seconds and, as far as the customer is concerned, the transaction is finished.

For the merchant, however, the automated electronic payment system continues the process of batching out, printing current and historical payment records, and transferring funds into the merchant's bank account. For check payments, ACH services provide check guarantee, conversion, and verification. More detailed electronic transfer information is provided online, but the final step is also to electronically deposit the funds into the merchant's account within a short time.


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