Check
A check is a written order directing a bank to transfer a specified amount of money from the issuer's account to the recipient. It acts as a secure financial tool, making transactions easy by instructing the bank to move the funds. Traditionally, checks are considered more straightforward and reliable means of transferring money than, for example, credit car payments.
The customer experience with checks is as follows:
-
The customer orders a product and chooses Check as a payment option.
-
Cleverbridge informs the customer how to submit the check.
-
The customer sends the check to their check service provider who collects money from the customer's bank account.
-
The check service provider performs the payment.