One of the biggest hassles of managing a youth sports organization is dealing with paper checks. If all of your membership paid by credit card, this would not be a problem. The reality is that there will always be a subset of your membership that can’t or won’t pay by credit card online, or they simply do not have a credit card. Many of our customers accept both credit cards and paper checks. On average, about 80% of registrants will use their credit card when given an option to pay by paper check or credit card. The other 20% will send in a paper check – which has to be reconciled in the system and cashed at a bank.
Today, we have released a new feature called eChecks, which will allow you to add another more payment option. eChecks are typically offered at a fraction of the cost of credit card processing, however, similar to paper checks, there is still the risk that funds may not be available in the registrant’s account – in these cases additional bank fees can be incurred. If eChecks are found to be a good fit for your organization, it can be easily “turned on” (see below) by an administrator with appropriate system rights.
How eChecks Work
eChecks work by prompting the registrant to enter banking information, typically from their checking account during the checkout process. This includes the name of their bank, the routing number, and the account number. eChecks are processed similar to a paper check and depend on the availability of funds in the account to cover the transaction. Unlike credit card payments, eChecks payments are not “guaranteed” or “authenticated” in the same way, nor is the availability of funds checked in real-time. Proceeds from eCheck payment are deposited to your organization’s bank account on a daily basis.
How to “turn it on”
Accepting eChecks requires a Merchant Account for your organization. For more information on how to obtain a Merchant Account, and to apply for one, login as administrator and go to Manage Account => Manage Organization => Banking Info. Be sure to check the “eChecks” box in the online application.
If a Merchant Account is already present on your account, it can be turned on or off by going to Account => Manage Organization => Payment Settings.