The CHAX software was created to not only accelerate the payment process, but also provide the user with a complete sense of security while this process is occurring. There are times in your business when it is important that you receive a payment immediately; in the past, you were at the mercy of your customers’ standard billing cycles and a host of delivery services. That was until CHAX! Now you can take control of the process and deposit the funds the same day your customer authorizes payment!

CHAX allows you to create a check which can be deposited into your bank account as simply as any check. The United States banking law allows this as long as you have the permission of the payer (the party that would normally issue the check).

NOTE: Although permission may be verbal MBS suggests that you receive specific authorization before creating a check. Use this document to create a proper draft check authorization request.

Your customer can either fax a copy of the check to you or give you the information you need over the phone or through email correspondence, and then have them either file the check away or destroy the check.

NOTE: If this information is provided to you over the phone, make sure to have your customer read to you the check number first and then the MICR numbers on the bottom of the check. You should tell them to mark “VOID –CHAXed” on their copy of a check which they will retain. The payer should retain the original check for his/her records, this original copy should never be deposited.

The key to CHAX is that it prints a check containing the MICR characters, just as they appear on a regular check. The American Bankers Association requires printing in accordance with specific standards, within very tight tolerances. CHAX offers a patented feature that ensures compliance with these tolerances.

CHAX are not allowed to be used for Certified Checks, Bank Teller Checks, or Money Orders.