jetCHEX Fulfills Your ACH Credit and ACH Debit Processing Needs.

With the Automated Clearing House — ACH Network —universally accepted by more than 20,000 financial institutions and used by more than 115 million consumers and four million businesses, jetCHEX is on the front line of your electronic payment needs.

jetCHEX is an Automated Clearing House service giving business of all types the tools they need to accept ACH credit , ACH debit and e-check payments automatically. We help businesses including retail, wholesale, telephone order, mail order, Internet and service industry based.

We help these organizations with various types of cash management and direct deposit products. Our software helps business verify and accept e-check payments automatically. Convert checks at the point-of-sale and collect insufficient funds automatically.

Our ATM/debit and credit card payment processing tools allow you to verify—in real-time—whether a customer's account is currently overdrawn, frozen or closed. We have Web-based software tools that give you the option of accepting credit card, electronic check and ATM/debit payments online, in person or on the telephone.

How ACH Works

ACH Credit – A transaction through the ACH network originated to pay a receiver (deposit funds into an account).

ACH Debit – A transaction through the ACH network originated to remove funds from the receiver (withdrawal from account).

ACH Network – The funds transfer system governed by the rules of the National ACH Association which provides for the inter-financial institution clearing of electronic entries for participating financial institutions.

Automated Clearing House – a central clearing facility, operated by a Federal Reserve Bank or a private sector organization on behalf of depository financial institutions in which participating DFIs transmit or receive ACH entries.

Direct Deposit – An ACH service that provides for the electronic transfer of funds directly into the account of a payee, usually an employee receiving pay or a Social Security beneficiary receiving retirement benefits.

ECK (Electronic Check) - A payment transaction which originally started out as a paper check, but which has been completely converted to an ACH transaction at the point of purchase or in the case of a redeposit paper check, reinsertion into the financial system. The original paper item is either returned to the check writer at the point of purchase or retained by the collection agency.

Electronic Funds Transfer – Any transfer of funds initiated through a terminal, telephone, computer or magnetic tape for the purpose of instructing or authorizing a financial institution to debit or credit an account.

National Automated Clearing House Association (NACHA) – The national trade association for the electronic payment associations, which establishes the rules, industry standards, and procedures governing the exchange of commercial ACH payments by depository financial institutions

What is electronic check conversion?

Electronic check conversion is a process in which your check is used as a source of information—for the check number, your account number, and the number that identifies your financial institution. The information is then used to make a one-time electronic payment from your account—an electronic fund transfer. The check itself is not the method of payment.

How will I know that my check is being used for electronic check conversion?

When you provide your check, you must be given notice that information from your check will be used to make an electronic payment from your account. The notice is required by the federal law that applies to electronic fund transfers—the Electronic Fund Transfer Act and the Federal Reserve Board's Regulation E. Notice may be provided in different ways. For example, a merchant may post a sign at the register or may give you a written notice that you'll be asked to sign.

What are some of the differences between electronic check conversion and using my check as payment?

• Your electronic transaction may be processed faster than a check. Be sure you have enough money in your account at the time you make the purchase.
  
  
• You have different consumer rights with an electronic check conversion transaction than when you use your check as payment. For example, with electronic check conversion, you have the right to an investigation by your financial institution when an error occurs.

What are my rights in electronic check conversion transactions?

• You have the right to receive notice when you provide your check telling you that information from the check will be used to make an electronic payment from your account.
  
  
• You have the right to receive notice when you provide your check telling you of any fee that the merchant will collect from your account electronically if you do not have enough money in your account to cover the transaction. This fee is similar to a “bounced check” fee.
  
  
• You have the right to receive a receipt when you make a purchase at a store. The receipt will contain information about the transaction, including
  • Date
  • Amount
  • Location
  • Name of merchant.
    
    
• You have the right to have this same information included as part of the regular account statement from your financial institution.
  
  
• You have the right to ask your financial institution to investigate any electronic fund transfers from your account that you believe are unauthorized or incorrect.

What should I do if I have a problem with an electronic check conversion transaction?

Always review your regular account statement from your financial institution. You should immediately contact your financial institution if you see a problem. Were you charged the wrong amount? Were you charged twice for the same transaction? You have only 60 days (from the date your statement was sent) to tell the financial institution about the problem. Depending on the circumstances, the financial institution may take up to 45 days from the time you notify it to complete its investigation.

With electronic check conversion, may I use the same check more than once?

No. An electronic check conversion transaction is a one-time electronic payment from your account. If you were to use the same check for more than one transaction and you had a problem with one of the transactions, your financial institution might have difficulty investigating the problem because the same check number would appear more than once on your statement.

Can electronic check conversion occur if I mail a check to pay a bill?

Yes. For example, let's assume that each time you get your insurance bill there is a notice. It tells you that when you mail a check, information from that check will be used to make an electronic payment from your account. If you then send a check, you have agreed to electronic check conversion. Unlike what happens when you make a purchase at a store, however, you won't receive a receipt. Your check won't be returned to you with your account statement from your financial institution because the transaction was processed as an electronic fund transfer, not as a check transaction.

As with electronic check conversions in stores, be sure you have enough money in your account when you mail your check, keep records of your payments, and check your account statements from your financial institution to make sure the amounts charged are correct.

What if I don't want my check to be used for electronic check conversion?

If you don't want your check to be used for electronic check conversion, you may have to provide another form of payment (for example, cash, debit card, or credit card).

What if I have a question or problem with an electronic check conversion?

Contact your financial institution. For information on state laws that may apply to electronic check conversion, contact your state's consumer protection agency or attorney general's office.

Where can I file a complaint about a merchant or someone else I paid by electronic check conversion?

Contact:
Federal Trade Commission
Consumer Response Center
600 Pennsylvania Ave., NW
Washington, DC 20580
877-FTC-HELP — toll free (877-382-4357)
www.ftc.gov

Please also send a copy of your complaint to:
Board of Governors of the Federal Reserve System
Division of Consumer and Community Affairs
Washington, DC 20551
202-452-3693
www.federalreserve.gov