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Strategic Check Point of Sale (POS)
Deposit Checks at Point-of-Sale!
Strategic Check’s POS permits retailers to electronically deposit checks presented by their customers at the Point Of Sale. Strategic Check POS offers options including a consumer check-only conversion alternative, and a comprehensive “any check” (company, payroll, travelers, money order, etc.) solution. We also specialize in electronic recurring transactions, ACH transactions, and business retail banking.
How does Strategic Check POS work?
- A customer presents a completed check to your cashier, who scans the check through a Strategic Check POS check scanner connected to the internet. Our scanners range from a simple MICR reader (if your prefer to deposit only consumer checks) to a combination check imager(for any check) /credit card machine.
- Check information (images and/or account data) is transmitted through Strategic Check POS for processing.
- Strategic Check POS automatically distinguishes between consumer items, which can be converted into electronic debits and processed through the national automated clearinghouse (ACH) system, or non-consumer items which are processed as substitute checks (otherwise known as Image Replacement Documents or IRDs).
- Consumer items processed by Strategic Check POS are electronically debited from your customer’s account and available in your bank account within 24 to 48 hours. Non-consumer items can be made available as soon as the next day.
- Strategic Check POS items that are returned as unpaid can be automatically redeposited electronically to increase collection.
Benefits to You
- Strategic Check POS is simple; it requires only internet access, and one of our check scanners.
- Strategic Check POS streamlines the check deposit process, and eliminates the need for trips to the bank to make deposits.
- Strategic Check POS automatically archives all transactions (data and images), and provides reports that can be easily downloaded to your accounting software.
- Strategic Check POS deposits into any bank, or banks, and permits consolidation of checks from multiple locations into a single account (if desired).
- Strategic Check POS processing fees are minimal, usually reduce bank fees, and include redeposits of returned items without further transaction costs.