NACHA announced today it has approved a new form of electronic check conversion that will allow retailers to turn bundles of checks into automated clearing house debits in a central location, or back ...

Only a few merchants are doing conversion now, and most of them use devices that merely record a check's magnetic ink character recognition (MICR) line, which carries information about the consumer's ...

Julia Kagan is a financial/consumer journalist and former senior editor, personal finance, of Investopedia. Check conversion transforms paper checks into electronic checks for faster processing and ...