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| National Bank Draft Center |
| Electronic Check Conversion |
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 Electronic Check Conversion by National Bank Draft Center Licensed affiliates of National Bank Drafting Systems, Inc. ECC HAS BEEN PUT ON HOLD BY NACHA FOR RULES CLARIFICATIONS 21st CENTURY TECHNOLOGY IS HERE. IMAGINE:  You go to your grocery store, fill your basket, and arrive at the checkout counter. You write a check and hand it to the checker, who feeds it through a "reader". The bank and account information is captured by the check reader. The checker enters the transaction amount on the credit card terminal. Like a credit card, the transaction is verified and authorized. A receipt is printed and you sign it. A copy of the receipt and your original check is returned to you. At the end of the day, the cashier prints an activity report. and transmits the transactions to be paid. The money is collected from your bank in 24-48 hours and credited to the merchant's account the next day. CUSTOMER BENEFITS: Your privacy is protected and your check no longer passes from clerk to clerk until it reaches the bank. You immediately have a record of the transaction to reconcile with your statement. You are saving your retailer from 50 cents to $2.50 per check off current processing costs, a savings that can be passed directly back to you, the consumer. THE PROBLEM: There are more than 65 billion checks written each year in America. That wave of checks grows by 1 billion each year, with processing costs ranging from 75 cents to $3 per check, according to the Financial Services Technology Consortium a Chicago-based research collaborative. The Financial Services Technology Consortium (FSTC) is a consortium of banks, financial services providers, national laboratories, universities, and government agencies who sponsor and participate in non-competitive collaborative research and development on interbank technical projects. Our Electronic Check Conversion technology will reduce the retailer's processing time tremendously. We integrate electronic transmission of a paper check. A depositing bank sends the paying bank (or a Federal Reserve Bank) an electronic transmission containing details of the check, such as amount, account number, and check number, that the depositing bank will be presenting later in the day or the following business day. THE ECC SOLUTION: A lot of paper is unnecessarily being processed because we want to keep our checkbooks. If we don't want to give up our checkbooks, maybe we can help reduce the processing costs of the retailers. How? Electronic Check Conversion is a step in the right direction. You still write a check, however, by agreeing to have your check converted to an electronic item, you are helping to reduce the flow of paper in this country and saving your retailer an enormous sum of money.  NEWS RELEASE: BETA TESTING REVEALS STRONG CONSUMER ACCEPTANCE OF ELECTRONIC CHECK CONVERSION: CLICK HERE RETAILER'S SAVINGS: Electronic Check Conversion will usually save the retailer from 50 cents to $2.50 per check. If a store takes in 300 checks per day, that's about 9,000 checks per month, or 108,000 checks per year. A retailer with 10 stores will save over $1 million in one year! IF YOUR COMPANY PROCESSES MORE THAN 100 CHECKS PER DAY, CLICK HERE INDUSTRY FORECAST: Recently, Chase Bank of Texas and the Federal Reserve Bank of Dallas have partnered to launch an Electronic Check Presentment program that is expected to process 5.5 million checks per month. The Banking Industry Technology Secretariat, or BITS, a roundtable of banking executives devoted to accelerating electronic commerce, is encouraging member banks to process at least 50 percent of their checks with electronic check presentment by 2001. Large banks, those with assets of $50 billion or more, can achieve an annual benefit from electronic check presentment of $16 million within one to three years, according to BITS. ASSOCIATE PROGRAM  This is not the typical online affiliate program. It is not MLM, nor do we give you a self-replicating website, just the opportunity to make a lot of money. With Electronic Check Conversion, we have a specific market . . . RETAIL STORES, or any operation that processes a significant number of checks. If you are a professional with significant contacts in this industry, please contact us by e-mail (below). This is a very lucrative opportunity. You'll know who you are. |
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