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e-checks

Becky G
Dec 28, 2019 6:53 PM
Joined Nov, 2019 29 posts

I looked through the forum history but I could not find a discussion on this......

Do any of the merchant account providers accept e-checks as a form of payment?

Ken T
Dec 28, 2019 7:07 PM
OR Team Member Joined Aug, 2019 669 posts

At this time, OwnerRez does not support e-checks, so even if a provider did, we aren't compatible with that. We've thought about it but haven't yet seen a good interface and provider for doing so. No doubt we'll run across one eventually and start supporting that method.

Chris Hynes
Dec 29, 2019 7:42 AM
OR Team Member Joined Oct, 2012 1338 posts

A bit more about the reasoning here... The hold-up on e-checks is primarily because they're not a true online payment method like credit card. With a credit card, you charge it and know that it's been charged immediately.

When you do an e-check, it takes a few days to settle into your account, or it can end up not clearing into your account up to a week later.

e-checks can also have a reversal or chargeback up to 60 days.

If your bank can process e-checks for you, you can go into OwnerRez and add a Custom Instructions type payment method and include e-check information there, and then once the check does clear you go into OwnerRez and record that transaction.

Becky G
Dec 29, 2019 10:45 AM
Joined Nov, 2019 29 posts

Thanks for the additional info. In Canada we do e-transfers, which are instant and confirmed or they can’t be sent. I assumed e-checks were the same but sounds quite different.