If you are ever in a situation where your eCheck bounces, you should set up an alternative payment method right away. Likewise, you should contact the business or the service provider to see whether there are any incurred fees for your bounced check, as it would be best if you could avoid late payment penalties.
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The cost behind processing eChecks
There’s no doubt that one of the main advantages of this form of payment is the low fee it comes with. There are many different processing rates, so it’s going to be impossible to give you an exact price estimate. But what we can give you are the average fees, which range from $0.30 and $1.50 per payment. Didn’t we already tell you that eChecks pay off big time?
A secure method for receiving online payments
Many times, people will be skeptical toward any action where they don’t actually have hands-on control of their funds. However, such thinking is completely unjustified when it comes to eChecks. For starters, eChecks can be reversed after being initiated, which is not something that can be said for wire transfers, which have their benefits.
