eCHEQUES (Electronic Funds Transfer)
What are eCheques?
eCheques allow you to receive funds from your customers directly from their bank account to yours. It's cheaper than Credit Cards, and simpler and more secure than Paper Cheques.
Great! I want eCheques.
The first step to activating eCheques for your account is to complete our free and simple online application for Electronic Fund Transfers. This application will allow us to connect your bank account to our system so that you can start receiving funds from your customers via eCheques.
Once we review and approve your application, we will configure your terminal to accept payments via eCheques.
How does my customer pay with eCheques?
When the customer goes to your payment link and selects eCheques to pay, they will be presented with a screen to select their bank and login as if they are logging into their online banking. Don't worry, this process is completely secure and managed by a renowned third party called Flinks.io that works closely with all the major banks to make this service available. Cashflow.io doesn't not store any of the banking credentials and you and your customer's privacy and security is safe.
How do I get my money?
Once the customer completes the process, you will be notified and the funds begin moving from their bank account directly to yours. The entire process may take anywhere from 1 to 5 business days, depending on the banks. We continue to work with our bank partners and payment providers to bring this delay down and we are confident it will be brought down to under 1 day of delay in the very near future.
Questions? We got answers. Contact sales@cashflow.io anytime.