Accepting Personal Check At The Point-Of-Sale Our Check Services offer solutions to merchant challenges by delivering the most powerful and merchant-friendly check service in the industry today. Our premier service, Conversion/Guarantee, combines the protection of check guarantee with the convenience of check conversion, thereby providing merchants with virtually risk-free check acceptance and funds within 48 hours. Check Conversion and Guarantee We have combined all the benefits of check conversion and check guarantee to provide the most powerful check service in the industry today. Merchants are able to convert paper checks into electronic deposits within 48 hours (two business days) while insuring the face value of the check and eliminating any chargeback liability. This service allows merchants to accept checks as safely and conveniently as credit cards. Traditional Guarantee Check Guarantee is the most commonly used check service allowing the merchant to “insure” the face value of the check and protecting the merchant against checks written on non-sufficient funds (NSF). Merchants obtain electronic approval or voice authorization for the transaction and then deposit the checks. Checks that do not clear can be submitted for reimbursement. This reimbursement typically takes 2-4 weeks from the time of receipt of the original item, and is processed electronically via the ACH. It is sent under a specific category, so the merchant can identify that the credit is for a bounced item. Electronic Check Conversion Conversion lets the merchant to convert paper checks into an electronic transaction at the point-of-sale without depositing the actual check. Funds are transferred into the merchant’s business checking account within two (2) business days via the Automated Clearing House (ACH). Should there be no funds available, the merchant will be notified by fax or telephone within five (5) business days so the customer can be contacted for an alternative means of payment. Check Verification Verification allows merchants to access the Negative Database to verify negative information regarding a particular check or check-writer. The merchant is simply “purchasing” information to aid in the decision to accept or decline a check. We provide an approval based on whether or not there is a positive match on the checking account number or home telephone number of the check-writer in the negative database. The decision to accept any check remains solely up to the merchant. Merchant Cooperative |  115 Etiwan Drive, Goose Creek, SC 29445 |  Toll Free (888) 287-6033 Merchant Cooperative is a registered ISO and MSP of HSBC Bank, USA, National Association, Buffalo, NY Contact | Affiliate Partner Program | Agent Solutions | Warranty | PCI Compliance | Privacy Policy | Legal © 2009 Merchant Cooperative. All Rights Reserved.