A check draft is created by the merchant, and the signature is not required. The account holder must authorize the merchant to create a check draft.
A regular check is created by the account holder, and signed (authorized) by the account holder
You can print pre-approved check draft on blank stock easily in house/Office with Online Check Writer
Any business can create a Check Draft also called a Demand Draft
A check draft is a legal copy of the check that is created by the merchant.
To accept checks
1- By Phone,
Print, endorse back and deposit like a regular check. Check drafts are For Deposit Only at bank and typically cannot be "cashed" like a regular check instantly at bank or any check cash place. This is one way banks cut down on fraud, creating a paper trail. Once Check Draft deposited, banks treat it like a regular check and clear just like a regular check.
Like a check, there are no fees associated with it like a Credit card or ACH when you collect payments from your clients/Customers.
No merchant account is required like to accept credit card or ACH
What do you need?
To create check draft
You need to take over the phone/Fax/Web
1- Name and address of Customers
2- Check Number (Optional)
3- Bank routing number 9 Digit
4- Bank Account Number
5- Be sure the customer agrees to the amount of the check, and you are done
Best way is have them Fax/email/Text a copy of check. This way, there is no confusion and create a paper trail where you the merchant will have written proof of authorization. Although not required for check drafting, this is a valuable loss prevention tool. Use our built in authorization by text or email
All businesses can directly benefit from taking checks by phone/Fax/Online. This is the most popular way to take checks from customers, clients, tenants, policy holders, and patients. This can be deposited into any U.S. bank the same day. There are no transaction fees. Authorization can be obtained by phone call, Text, a fax of a check, an eMail order, or an order placed via an Internet form or shopping cart. With proper authorization, customers can be billed on a monthly recurring basis. Use our Built in authorization form that can be adapted for any business.