Check Guarantee Definition

Merchant Account Check Guarantee Explained:

What is Check Guarantee? Check guarantee is a service provided by many merchant account providers that allows merchants to receive the funds specified in a bad, bounced, or returned check. This service is usually provided for a monthly cost that is based on a merchant’s average monthly dollar amount of returned check payments.

When a customer pays with a check that is insufficiently funded (NSF) or tied to a nonexistent bank account, or when a customer places a stop payment on a check, the customer’s bank will deny payment of the funds to the merchant who accepted the check. This leaves the merchant without any way of recovering these funds besides legal action. If a merchant pays for a check guarantee service, however, the merchant’s service provider will pay the merchant the full amount of the bad check as long as the merchant followed all required check acceptance procedures at the point of sale. Merchants will want to ensure that they can consistently comply with their provider’s check acceptance guidelines before signing up for check guarantee services.

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Why I'm Qualified to Write About Credit Card Processing and Merchant Account Services

I'm a former credit card processing sales director who left the industry because I didn't like how it takes advantage of small business owners. It feeds like a leech on businesses and thrives by imposing fees that are nearly impossible to comprehend. Seeing a need for change, I left and built this website help business owners better understand the industry, research merchant services providers, and get refunds of excessive merchant account fees. My experience of working "behind the curtain" in the industry, and using that knowledge for good, has resulted in millions of dollars returned to hard-working small business owners as well as enterprise-level companies.

From the time that I starting working in the merchant services industry to when I left to create this website, I've been on the pulse of payments for nearly 15 years. It didn't seem fair to keep this "insider" knowledge to myself. To lift the fog, I've reviewed hundreds of companies, read thousands of user reviews, and learned the pricing tricks of every provider. If you have questions about credit card processing, you can find the answers on this website.

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I specialize in helping businesses get refunds of excessive fees and have recovered $1,567,184 this year alone! Submit a recent statement below to find out if you are getting overcharged. I'll take a look at it for free. If I find fees that can be refunded, hire me on contigency. I only get compensated if I put money back into your pocket.

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