Echecks features include;
• They have similar information to that of paper checks.
• They are guided by the strict legal framework that is associated with paper checks.
• Has no maximum limit of the information to be linked with it.
• Has no intermediary’s hence direct exchange between two parties.
• Can be applied to all remote transactions that are currently occupied by paper checks.
• They improve the features and functions offered by checking accounts.Echecks has various advantages like;
• Simple interface hence easy to understand and use.
• Extremely safe due to banking regulations. Encryption, certificate authorities, digital signatures, duplicate detection and public key cryptography, are among enhanced safety features included.
• Major payment gateways use them.
• They charge lower fees than all competitors.
• They conduct banking transactions via the internet with a safety guarantee.
• They reduce fraud cases.Echecks starts by the payee authorising a transaction. The payment information is forwarded to an online payment service like PayPal and PaySimple. The information is then passed via ACH network by the payment processor or business. The funds are then deducted from the payee’s account, and the payment gateway sends a receipt to payee’s email. The funds are then transferred to the recipient's account.