There is a monthly fixed fee (Depending on the amount of transactions that has been processed) plus the authorization percentage.
How do I recuperate bounced checks?
First our member must formally notify us and then Payment Processors International will reimburse the check for its face value plus expenses in a prudential period.
How do I become a member of Payment Processors International?
In order to affiliate you have to sign a contract with us Payment Processors International which in return will guarantee the services already mentioned.
Checks are written orders we use to tell our bank or other depository institution to pay money or to transfer funds from our account to the check holder.
Government- This type of checks could be written by any government entity.
Certified- Certified checks are usually used when called for by legal contract, such as real estate or automobile sale agreements. Certified checks are considered less risky than personal checks because the bank which they are drawn has certified that funds are available to the payee.
Cashier’s Checks- A less expensive alternative to a certified is a cashier’s check, sometimes called a bank money order or a treasurer’s check. A person who buys a cashier’s check does not need to have checking account. He or she merely goes to the bank, requests a cashier’s check for a certain amount, and pays hat amount plus a service charge.
In some financial transactions, the payee may prefer a cashier’s check to a personal check. A cashier’s check has a better guarantee of payment because it is drawn by a bank against itself.
Traveler’s Checks- Traveler’s checks are sold through banks and travel companies, usually in $20, $50, $100, and $500 denominations. The usual cost is the check’s face value plus a small percentage. Widely accepted in the United States and abroad, traveler’s checks are nearly as convenient to use as cash.
The purchaser of traveler’s checks signs at the time of purchase and again when they are cashed. This practice protects both the user and the cashing party. Lost or stolen traveler’s checks will be replaced by the issuing company.
Personal Money Orders- For people who don’t maintain a checking account or who prefer not to make payments with cash, money orders often serve the same function as personal checks. Personal money orders, sometimes called register checks, can be purchased at banks and some retail stores. Personal money orders are usually smaller amounts and are cheaper than cashier’s checks. Often, only the amount is filled in at the time money order is issued. Until the blanks are filled in for the payee’s name, the date, and the purchaser’s signature, the money order is as risky as cash to the buyer. For this reason, some banks require that the blank spaces be filed in when the money order is issued.
There are numbers of ways that businesses and individuals can limit the risk of having to deal with “bad” checks.
Require adequate identification from a person presenting a personal check.
Ask the person to pay by cashier’s check or money order.
Ask his or her bank to make an electronic transfer of funds for payments involving large money amounts. Such transfers simply move funds from the payor’s account to the recipient’s.
