MailCHEQ™
 The receipt of a CHEQ™ at a lockbox (point of receipt) that will be converted to an electronic CHEQ™ transaction and processed through the Automated Clearing House (ACH) network as an Accounts Receivable Conversion (ARC) transaction or through the Fed as an Image Replacement deposit (IRD).
The CHEQ™ is converted to an image and MICR data file to be transmitted to our CHEQ™ Processing Center the same day.
MailCHEQ™ Benefits
- Easily Centralize Multiple Location Deposits
- No More Daily Re-deposits of Returned Checks
- No Change to Your Current Banking Relationship
- CHEQ™Image Captured as Proof of Payment
- Eliminate All NSF Returned Item Fees With eRecovery™
- Instant Access to CHEQ™Image Copies
- Instant Access to Daily CHEQ™ Log
- Easy to Use and Implement
- Lower CHEQ™ Deposit fees
- Lower CHEQ™ Re-deposit fees
- Faster Availability of Funds
- Built in Security Management
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MailCHEQ™ Process
The consumer is informed that their CHEQ™ will be converted to an electronic transaction and debited from their Account.
The MICR line of the CHEQ™, the image, and the transaction amount are used to form the electronic ARC or IRD transaction.
MailCHEQ™ takes a digital image of the CHEQ™ to serve as the legal proof of payment for the purchase. The Image is also be used in the eRecovery™ collection process.
MailCHEQ™ Solutions
MailCHEQ™ conversion allows your company to process and deposit all of your mailed in payments electronically. At the end of each day, the captured CHEQ™ information will be placed into an ACH file as an ARC or IRD entry. Then once a day, MailCHEQ™ will deliver the deposit electronically to the bank through our CHEQ™ Processing Center.
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