what is "telecheck"?

Question

I'm looking fo the general meaning of the word and specifically what it means in the phrase: :Payday loans without telecheck are faster, and easier to get. (True or False?)

Answer 1

It's a company. They are a third party company that offers check services to merchants.

The TeleCheck Electronic Check Acceptance® (ECA®) service converts a paper check into an electronic item at the point of sale. It then processes the transaction through the Automated Clearing House, the same system that handles ATM transactions and the direct deposit of payroll checks. The ECA service allows retailers to accept checks as quickly, safely and easily as they accept credit cards. Think of it as a check without the paper.

When you present your check to the sales clerk, your check is authorized through a specially-designed, secure TeleCheck system that captures banking information and the amount of the check. Once the check is approved, you'll receive a receipt of the electronic transaction to sign. When you sign the receipt, you will receive a copy for your records along with your check to keep. It's that simple.

Signing the ECA receipt is similar to signing a credit card slip. Your signature on the receipt authorizes TeleCheck to present the check to your bank electronically and deposit the funds into the business's account.

For more information please visit the links:

http://www.telecheck.com/wwwtelecheck/CDA/CDAtemplates/twsCDAfaq/0,1916,87,00.html
http://www.telecheck.com/wwwtelecheck/CDA/CDAtemplates/twsCDAGeneric/0,1922,166,00.html

Answer 2

Don't know if it is faster. I have used telecheck to make different payments on things. You just call the company you want to make a payment at and tell them you want to make a telecheck. It is easy to do. And paying this way is faster than sending it through the mail. The amount get credited right away.

Answer 3

As far as a payday loan is concerned (1st of all don't do one!) I am not sure. But there is a company called TeleCheck. They verify past account history for financial institutions like banks & credit unions.

Sounds like a procedure that the check cashing place (did I mention not to use them?) wants to gain access to your account so they can debit what you owe them (which will be much more than you borrow) automatically.

These places will cost you so much money that it is not worth all of the future headaches you will encounter because of them, will not be worth it.

Answer 4

Ever in view that i became little and til immediately i have continually said as my mum "Mummy" and my dad "Daddy". only because they under no circumstances spoke back to "mum"/"dad". and it is continually stuck, i assume. similar with my siblings, too. I swear each and every time my mom calls me at artwork, and that i answer saying "hi, mummy", i'm getting the most strangest looks from my artwork colleagues. They continually locate that hilarious and many times take the mic. and that i'll genuinely see why it is humorous lol yet, it is under no circumstances replaced, and that i doubt it is going to. father and mom will continually be Mummy and Daddy. And specifically because they received't respond to at least some thing else from their little ones! : )

Answer 5

Telechex is how a business does a "credit check" on people who write checks.

Payday loans without Telechex just means they don't care how many checks you bounced.

Answer 6

It is basically providing the routing number and account number of your checking account so that they can do a withdraw via phone from your account. It is like a debit withdraw.