Quote:
Originally posted by Madball
Wig,
what percentage of returned checks or "revokes" does a typical porn webmaster get @ ACHDebit?
There doesn't seem to be anything on the market that has reasonable scrubbing/security for checking accounts. Maybe it's impossible, I am not clued into this portion of payment methods. As of now, people just punch in some bogus data and get free access easily.
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Madball,
Depends on whether you are looking at initials on a apples to apples basis or including the recurring.
On initials and looking at apples to apples (meaning returns tied to originated entry) about 23%. Factor in recurring and it drops.
One of the big differences is that we wait until the returns have come back and then assess our fee on the settled checks. This way, we have every incentive to eliminate the bad checks, but not the good ones. Basically, the same interest our merchant has.
As a result, we did not come to our merchants when StarCheck became available and ask them to pay, we just ate it so we could reduce the bad checks and our cost of returns, and provide a better service to our merchants.
There is much more to ACH processing... A good ACH processor has to build a database of account structure and nomenclature to better analyze how different banks and credit unions operate. To know when and where to convert ABA's or print a draft.
I could go on and on....
