Check conversion is among the fastest growing types of electronic payment applications due to its enormous benefits - in fact, check conversion grew by over 60% in 2005. When educating your customers on check conversion, be sure to emphasize the following points:

Check conversion is simple.

• As with any new system, check conversion requires some systemic changes; however, these changes are simple for business customers to set up. Once the new system is established, a company immediately begins saving money.
• Individuals will not need to do anything new or different when their checks are to be converted, as electronic payment processing has advanced to the point that the processing is seamless and largely transparent to the individual. They may notice that the amount of the payment appears in a different location on their monthly statement.

Check conversion is safe.

• Check conversion relies on the same secure network used for Direct Deposit and Direct Payment, the Automated Clearing House.
• The Federal Reserve's Regulation E and the NACHA Operating Rules regulate electronic payments processed through the ACH Network. Because of Reg E and NACHA Operating Rules, consumers have greater protection with check conversion.
• Check conversion is the fastest-growing type of electronic payment ever. Over 2.15 billion consumer bill payments by check were successfully converted to ACH payments in 2005.
• Businesses are required to provide notice to customers prior to the receipt of each check to be converted to an electronic payment for ACH processing.

Check conversion is smart.

• Check conversion reduces time and resources needed by businesses to process payments, resulting in continued cost savings to companies and the U.S. economy.
• Electronic processing reduces the burden on our nation's transportation systems and the environment. It takes a considerable amount of fuel to ship our country's millions of checks each year between companies, financial institutions, and individuals.