About MyEcheck, Inc.

MyEcheck is the only fully electronic check services provider that enables authorized real-time electronic payments from all US checking accounts. The Company’s goal is to capitalize on opportunities created by the federal Check Clearing Act for the 21st Century (“Check 21”) law that became law on October 28, 2004.

The legislation facilitated check truncation by creating a new negotiable instrument called a “substitute check.” This change created a demand for alternatives to debit/credit card and ACH payment solutions.

MyEcheck conceived of and received a patent for a method that allows it to create and clear fully electronic checks. We provide software that enables merchants and banks to receive and process real-time payments from consumers, businesses, and government agencies.

Our patented process cuts costs, reduces fraud, and replaces the labor-intensive process of sorting, transporting, presenting, and reconciling paper checks with a faster and less error-prone process.

Payments can be initiated online, via point-of-sale terminals, or over the telephone. Our services include electronic check creation, real-time check authorization, payment fraud scrubs, payment guarantee, check clearing, and complete online reporting.
MyEcheck was founded and incorporated in the State of Delaware in October 2004.

How MyEcheck Works

When a merchant uploads a CSV transaction batch file to our server, we convert the data into a Check 21 compliant image file (or ICL—Image Cash Letter). We send the substitute check image file directly to your bank for deposit into the merchant’s account.
This method allows you to process the payment like a traditional check. Alternatively, we can create a substitute check and route the payment through your Fedline account. Payments clear in the same priority as paper checks.

Why Choose MyEcheck

  • Simpler and cheaper alternative to ACH clearing process.
  • Attract new low-cost merchant accounts
  • Increased volume of purely electronic check payments.
  • Tens of thousands of low-cost electronic transactions per month.
  • Payments made through your bank are usually cleared within 24 hours.
  • Returns are minimal, but are processed just like other checks.
  • When required, returns usually occur within 24 hours.

Applicable Regulations

Since MyEcheck processes but does not conduct transactions, and does not directly hold or transfer cash, we are not subject to direct federal, state or local regulation. We are also not subject to regulation or laws that apply to accessing or conducting Internet commerce. We are only subject to regulations applicable to general business conduct. However, there are no assurances that MyEcheck will not be subject to financial regulations in the future.

How may we help you?

We would love to hear from you! It’s easy to contact us any time. We will answer your inquiry within two business days.
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