E-Check (or echeck)

E-Check payments are ACH payments that originate via the internet, telephone, point-of-sale (POS), or bill payment sent through the mail or unattended lockbox. For mail and lockbox payments, the paper check is not deposited, but converted into an ACH debit. Learn more about e-check payments here.

Related Terms

  • RDFI (Receiving Depository Financial Institutions)

    A financial institution qualified by the National Automated Clearing House Association (NACHA) to receive ACH transactions.

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  • Surcharge

    A surcharge is an extra fee that’s added to the regular total amount.

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