Checkbook is making sending and receiving checks as easy as pie
Posted by Checkbook on Aug 16, 2017
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What is an ACH Credit Payment
Automated Clearing House (ACH) payments are a widely used form of electronic money transfer in the United States. An ACH credit payment involves funds being transferred into a bank account as opposed to ACH Debit which is used to pull funds out of a bank account. Third party payment processors typically use a clearing bank which originates ACH transactions for the processor To complete a payment from one entity to another the processors' bank will act as the ODFI (Originating Depository Financial Institution ) and send an ACH Debit to pull funds out of the Payor's account. It will then create an ACH Credit transaction to push funds into the Payee/Receiver's account
Checkbook Reaches 2 Million Digital Check Users Bringing Consumer Ease To Business Payments
"Checkbook simplifies business and individual payments replacing time consuming steps for both the sender and the receiver of money with one email exchange. Checkbook immediately sends a Digital Check and does not charge percentage based fees like other payment companies like Square"
Checkbook Secures $10M in Series A Financing Led by MassMutual Ventures
Checkbook Inc announced that it has closed $10 million in Series A funding led by MassMutual Ventures. IA Capital, JPMorgan Chase and Cross River Digital Ventures are also participating in the round along with previous other investors.
