What Is a Check Draft: Convenient Payment Solution for Businesses

Apr 4, 2024 | Check Draft

What is a check draft? A check draft is a valid form of a check created by the vendor. The cloud-based platform lets you to generate checks remotely without needing signatures and receive payments through check drafts. This process involves authorizing your payer online or over the phone. It also involves depositing the check draft at the bank as needed and printing it on blank check stock. You can also set up recurring bank drafts to collect payments from your clients regularly. This service simplifies the check creation and payment collection process for businesses. 

Creating Checks Remotely

Check Drafts, also referred to as bank drafts or remote drafts, are a valid type of check initiated by the vendor. Zil Money enables the remote creation of checks, eliminating the necessity for physical signatures and simplifying payment collections through check drafts. This adaptability helps businesses accelerate payment procedures, minimize administrative tasks, and improve cash flow oversight. Additionally, it facilitates smoother financial transactions and enhances overall business efficiency.

Cost-Efficiency and Security 

Zil Money offers significant cost savings as it allows you to generate checks on blank paper, saving up to 80% on check printing expenses. The assurance the issuing bank provides for payments made through check drafts creates a secure transaction environment. This fosters trust and confidence while reducing the risk of fraud and unauthorized transactions. This enhanced security is crucial for businesses and individuals looking to safeguard their financial transactions effectively. 

Collecting Payments Regularly 

Zil Money’s Check Draft feature offers an efficient solution for businesses that require consistent payment collections. Recurring bank drafts enable businesses to receive client payments on a fixed schedule.    

The platform transforms payment procedures with its remote check generation, simplified payment processing, versatile deposit methods, affordable check printing, and automated payment collection. Embrace the convenience and effectiveness of the all-in-one platform to simplify your financial processes and propel your business forward. 

Get in Touch

(408) 775-7720

Make a call directly to our customer support team to get assistance instantly.

support@zilmoney.com

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111 N Market St, San Jose, CA 95113

PO Box 6543, Tyler TX 75711

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