electronic checks
Online bank transfers
Electronic checks are digital versions of traditional paper checks, allowing payment directly from a bank account through electronic networks rather than physical processing.
The payer authorizes the transaction online or by phone, and funds transfer between accounts electronically.
Also called e-checks or echecks.
The utility company accepts electronic checks for monthly payments.
- clearinghouseCentral settlement agency
- digital paymentNon-cash electronic transaction
- bank accountFinancial storage for funds
- routing numberBank branch identifier code
- encryptionConverting data into code
secure transaction · digital signature · online banking · payment gateway · direct deposit · funds transfer · fraud detection · identity theft · financial institution · mobile payment · tokenization · consumer protection laws · cloud computing · payment processing · blockchain technology
electronic checkscash
Ready spending funds
coins · banknotes · hard currency · money orders · paper money
electronic checkscash
Ready spending funds
credit cards · debit cards · cash on delivery · cryptocurrency · wire transfers
electronic checksinstant payment
Transaction completed without delay
cash · wire transfer · Zelle
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