Accepting payment by check anyone using it?

Thinking about having an API set up in cart

[bwnbwn]

I am looking at having an API set up to accept checks over the internet as another paymnet option.

This is a real time payment as the customer would enter the routing and account information to debit their account.

The cost to get this set up for my cart will cost about 400.00.

My question is for those that already have this type of payment set up and how is it working for you.

With the economy as it is there are many folks now without CC's.

[LifeinAsia]

With the economy as it is there are many folks now without CC's.

Personally, if I was dealing with a customer who didn't have the credit worthiness to get (or maintain) a credit card, I'd have serious doubts about trusting them for an e-check.

I suppose if it was truly real-time (like processing a debit card), that would alleviate a lot of the risk. But if it's just checking the balance in real-time than grabbing the money later at batch time, that would allow too much time to "bounce" the e-check in my opinion.

And if it's more similar to the e-check system through PayPal, I wouldn't touch it with a 10-foot pole!

I think we can have something similar setup with our processor, but we don't see the market for it in our niche. I think it's only a couple hundred dollars to add it for us, but I doubt that option would add another $200 in sales to recoup the investment.

But that's just us.

[bwnbwn]

And if it's more similar to the e-check system through PayPal, I wouldn't touch it with a 10-foot pole!

LifeinAsia
why is that? This is set up as an e-check but not through paypal but a private group.
The 400 is programming cost due to the cart being a commercial cart and then another 200-300 for all the fees assoicated with setting up the account to process the checks.

[LifeinAsia]

Because it sometimes takes 5 days (or longer) for a PayPal e-check to clear so we can get the money in our account.

[bwnbwn]

LifeinAsia Thanks I already knew that as I at one time took echecks back when it first came out but discontinued it due to many more issues than the payment delay.

Thats not really an issue as we won't ship till the check has cleared.

7 years should have worked out the bugs that were the reason I quit taking echecks

I am just wondering if anyone is using it with their ecommercesites and how it's working out for them.