Guaranteed Payments

Payment21® Guaranteed Payments warrants all accepted checks

Payment21® understands that merchants need to use their own approach when it comes to accepting checks. We streamline the check acceptance process to maximize your efficiency, and combine this with our elaborate fraud prevention services and extensive insurance program.

Our check guarantee service covers all accepted check items for either ACH or Check 21 so you do not have to fear that your customers’ checks will not clear or that they do not have sufficient funds. The guarantee process is all run behind the scenes, so customers will never feel that there are any trust issues in their regard. When attempting to maximize customer satisfaction, you need to ensure that the last impression you leave is a positive one. This service ensures the following:

  • Guarantee payment on all bad checks that get cleared
  • No check readers, terminals, phone calls, or log lists to maintain
  • You can accept any U.S. checks from anywhere
  • No tough decisions to make at the point of sale
  • Coverage for stop payment checks
  • No processing of returns and no dealing with fraudulent activities

This program means Payment21® will guarantee on all submitted checks with the exception of suspicious transactions that are declined by our customizable Verification Loop™ working in combination with our proprietary Mitigation Monitor™. As a result, merchants will have simple and consistent check acceptance procedures for all their staff members.

The insurance rate is industry specific and depends on the merchant's processing history. Costs are staggered starting at 10% on top of the ticket size. Over time, the rate may go down to as low as 5%. Guaranteed payments help merchants to keep internal policies short and simple. The service is best suited to merchants with a proven track record on their average return rate.

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