This is the era wherein Paper money, Paper checks etc. have become outdated. Credit cards or ‘plastic money’ have taken over most transactions. Similarly, the conventional method of crediting a check and waiting for its collection etc is becoming obsolete by the day. Nowadays people make use of alternatives like High Risk Check 21 processing to transfer money.

Companies making use of ACH and check 21 processing option send an electronic image of a cheque called an IRD to the bank in place of a paper cheque. The concerned individual at the bank will evaluate the cheque and then proceed to debit or credit the client’s account accordingly. A lot of time can be saved in this manner. The time taken for processing is roughly 2 days and the costs incurred are comparatively less. Inter bank transactions are rendered more efficient and faster with this method.

High Risk ACH and check processing can be used to debit tax payments, club subscriptions, loan payments, online shopping bills etc. On the other hand you can also receive credits of your payroll, pensions etc through this method.

This method helps to increase the clientele of high to medium risk businesses. They will be able to transact with those customers who do not own credit or debit cards. Financial malpractices will also come down considerably. The transactions will take place on a timely and precise basis. This method identifies fraudulent cheques faster than the conventional method which will reveal any discrepancies only after the time interval taken for collection.

The increased usage of High Risk Ach and Check 21 processing has definitely lead to an upsurge in online businesses and related transactions. Due to the hassle free nature of this method more and more entrepreneurs have resorted to using it.

Businesses benefit from the quick cash flow generated by this method. The rules here are different from those laid down for ordinary cheques but the customer will receive a bank statement just as in the case of ordinary cheque transactions. Stress has to be laid on the manner in which you write out the cheque because the electronic image should be legible to avoid any discrepancy.

High Risk ACH and Check 21 Processing does have its disadvantages as well. It might be impossible to implicate fraudsters in case of any inconsistency because if the original cheque is destroyed then it becomes difficult to gather proof. So make sure that the cheques have outstanding protection features which cannot be copied.