The Collection Shop Online Check Acceptance Policies

The Collection Shop offers the convenience of making your online purchases with the convenience of using your Personal Checks as an alternative to using your credit card.
Our Online check service is only available for purchases and can not be used for Layaways.

Using our Online Check Payment System does incur a service charge of 5% to you for the handling and processing of your On-Line Check Transaction. This 5% surcharge is displayed in your shopping basket. At this point you have the option to change your payment method to a credit card if you do not want to incur this surcharge on your purchase.

FAQ

How is my check accepted over the Internet? An Internet check transaction is similar to a paper check transaction except that Internet checks are processed using the system banks use for electronic deposits and payments. This requires that you enter the full numbers imprinted on the bottom of your paper check (also known as the MICR numbers, which stands for magnetic ink character recognition). This information is then converted into an electronic item and then processes it through the Automated Clearing House (ACH).

What is the Automated Clearing House? The ACH Network has been in operation for more than 25 years and has proven to be a secure and economical payment system, processing billions of commercial transactions such as payroll deposits, insurance premiums and utility bill payments. Check transactions over the Internet are a natural extension of the capabilities of ACH.

Are the funds immediately debited from my account? No. Consumers who authorize Internet check transactions will still enjoy the paper check benefit of the float. That’s because the check is processed through the bank’s electronic systems in about the same amount of time as a paper check.

How will an Internet check transaction appear on my bank statement? A complete description of the transaction will be included in your bank statement. This description will include most, if not all, of the following information: check number, merchant name, settlement date and check amount. This information appears on your statement where other electronic payments (such as direct payroll deposits and ATM transactions) are listed.

Is this process regulated and safe for consumers? Companies that process payments electronically (checks, credit cards, ATMs) must adhere to government-mandated guidelines. The electronic process is governed under Regulation E, which governs all electronic processing, including ATM and credit card transactions.

Sale	Once the transaction has been authorized, your checking account will be debited electronically through the regular banking system. Should the draft or EFT be returned unpaid, a returned item fee may also be debited from your account, or electronically drafted. See Fee Schedule
Reversals:	Only completed transactions can be reversed. Bank fee charges will incur on your account if the original does not clear.