Paya Check Services is an add-on service offered by Clearent. The product brief is attached, the prices are located on pages 3-4, and vary depending on how the transaction is processed. The options are as follows:
- paper guarantee deposit
- remote deposit
- checks by phone
- checks by web
- ACH services
Basically for electronic check processing, transaction fees are $.45 per check, $59.95 annual fee, a monthly minimum fee of $12.50* and a required monthly fee of $3.50.
*Monthly minimum requires at least $12.50 in fees to be billed monthly. If the merchant only incurs 5.00 in fees for the month, they will be billed an additional $7.50 to meet the monthly minimum fee of $12.50.
So an estimated total cost for electronic check processing is:
- $.45/check
- $12.50/monthly (including the $3.50/required monthly fee)
- $59.95/annual
(See attached)