FAQ Who is Payment Processors International, Inc.?
It is an enterprise dedicated to the verification and authorization of checks that guarantees to all business the payment processing of checks.

What type of services Payment Processors International offers?
We are offering reference and the authorization of checks.

Does the check’s writer have to be affiliated to Payment Processors International?
No, it is the commerce the one that has to be a member of Payment Processors International in order to verify its clientele checks.

How much is the cost?
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.

What are the requirements for membership?
The company has to be legally registered.

What are the benefits by becoming a member of Payment Processors International?
• Reimbursement of checks with not enough funds.
• Saving on payment processing.
• Increment on sales by accepting all personal checks.
• Transferring the risk of check acceptance to us.
• Eliminate all legal cost that comes with collection of bounced checks.

What is a check?
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.

How many types of checks there are?
There are many:
• Personal- Checks written by any natural person.
• Commercial- Checks written by businesses.
• 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.

How long is the existence of a check after being signed?
Personal, commercial, and certified checks are valid up to three months, whereas checks from governments are usually good for six or twelve months.

What are the reasons checks get return?
Checks are return for a number of reasons
• Insufficient funds in the check writer’s account.
• An improper endorsement or date.
• An error in the magnetic ink character recognition (MICR) code imprinted on the check when the check was first deposited.
• An alteration in the handwritten information on the check that is not initiated by the check writer.
• A stop payment order issued on the check.
• A hold placed on the check writer’s account.

How can I limit risk from problem checks?
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.