Digital Checks (not echecks) – better than ACH for sending money
Disclaimer: I work for Checkbook.io<p>The problem we are trying to solve is paper Checks are still being to pay individuals&#x2F;businesses. ACH doesn&#x27;t work for paying out because the recipient needs to verify account (a painful process if micro-deposits are being used ) and there is a delay of 3 business days. Credit Cards charge 2.9%+ which doesn&#x27;t scale for larger transactions.<p>Having a simple solution that can disburse funds overnight to the recipient with having to send out paper, sign up for some service or pay 2.9% is what we are building<p>Different than the traditional echecks since it allows instant verification and works with bank accounts that may not be ACH enabled e.g. Money Market Accounts, Small Banks&#x2F;Credit Unions that may not be ACH enabled