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Originally Posted by Adam-EB
We abandoned accepting checks years ago, because we were getting a 25% returned check ratio, and that didn't appeal to us, especially since they had access the entire time until their check bounced. We switched to Glo-Bill until they went belly up, because they had a system in place where the member didn't get access until the check cleared, which we liked. What is the average bounced check percentage now, and what will this new system be, approximately?
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while i don?t want to throw any concrete numbers out, check returns on new transactions (not rebills) are high relative to what webmasters are accustomed to from their credit card transactions (refunds/chargeback's). My guess is that, across the different processors, (new check sales only), the return rate ranges from 20% to 50%. The new system should improve both the throughput of ach transactions (not as many declines), and at the same time improve the existing return rate. Results may differ across accounts; perhaps you would consider reevaluating accepting checks through CCBill with the advent of this new system. Feel free to icq me for specific details 45471840
As for waiting until the member has access, much of what we process are impulse buys where the consumer may not want to wait 3 or more days for the check to clear before they can access the content?the flip side to this, of course, are the check returns, the release of the new ACH system should help curb this
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