Digitizing real estate payments with eChecks

In residential real estate closing, there are usually multiple payment disbursements. Today, most of those payments are still paper checks. Deluxe Payment Exchange is revolutionizing real estate payment technology. Deluxe Payment Exchange turns paper checks into cost-effective eChecks delivered digitally and securely in seconds, with no sensitive credentials or special sign-up needed for payees to receive payments.

eChecks can be sent anytime from anywhere, along with detailed remittance information. Deluxe Payment Exchange can save costs by eliminating the need for printers, check stock, MICR ink, and visits to the post office.

Are some of your payees not sure about going digital? No worries, because Deluxe Payment Exchange has an option called Print+Mail where Deluxe can send paper checks on your behalf as the payer. This print and mail service is still cheaper than doing this in-house.

Deluxe Payment Exchange can help reduce check reconciliation if a paper check gets lost in the mail. This process typically has fees, as well as the need to reprint and mail a replacement check. Deluxe Payment Exchange can help alleviate the check reconciliation process by sending out an eCheck, in a fraction of the time. If Deluxe Payment Exchange ever gets a bad email address, a stop payment is not necessary. The eCheck resides on Deluxe Payment Exchange's secure server and since it was never accessed or downloaded, all that needs to happen is to correct the email address.

Deluxe Payment Exchange can also help reduce escheatment. It sends automated email notifications reminding payees that they have an eCheck, so the sender doesn't need to remind them. This leads to a higher retrieval rate which improves transaction rates and lowers escheatment.