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Checkmatic NSF Check Collection Software FAQ's

  1. Is collecting checks electronically legal?
  2. What else do I need?
  3. Can I use a bubble jet printer?
  4. Do I need any other software?
  5. What do banks think?
  6. Can companies out side of the U.S. use this program?
  7. What if my customer has concerns about giving out their check information?

1. Is collecting checks electronically legal?
As of September 1998, Yes. NACHA and the Federal Reserve made collecting NSF checks electronically legal in all states.

2. What else do I need to collect NSF checks?
An IBM compatible computer, preferably at least PIV-1.5 Gig with 256MB RAM, 100MB free disk space, broadband connection, printer and fax machine. A CD burner or zip drive with a UPS is recommended. You can use a dial up but we don't support AOL, MSN or other providers with their own email client and spam software.

3. Can I use a bubble jet printer?
Many users have Bubble Jet Printers or Ink Jet Printers. Our company uses a HP Laser Jet 4+ Printer to run our reports because it is less expensive.

4. Do I need any other software?
No. Our software is a stand alone software but can integrate with other software such a s Microsoft Access.

5. What do banks think?
Since this is legal, banks must accept the transactions. Banks also must honor their customers requests and sometimes the transaction may be reversed. This is because the customer is disputing the validity of the transaction.

6. Can companies out side of the U.S. use this program?
At the present time most countries do not have banking guidelines in place. NACHA and the Federal Reserve will only allow this to be done in the US.

7.What if my customer has concerns about giving out their check information?
This question relates to the TelSofttm software. Explain that you would have the same information if they mailed you a check. Taking check information is really no different than accepting a credit card over the phone. No signature is required for a phone in credit card order. The customer knows he will only be charged for what he has ordered or is paying for. The business that takes the order would be breaking the law if any thing other than the authorized transaction is processed. The same theory applies to bank drafts or EFT. The business can only legally draft for the amount that has been authorized by the customer. As more and more people find out about EFT and use it the more it will be accepted. Once the public gets over the uniqueness of the service, they will find it really makes a whole lot of sense.