How EFT Works

• Customer completes your online order form, providing checking account information.


• Submitted form is accepted by Autotrans’s secure server via a secure SSL socket.


• Customer’s ABA information is immediately verified against a national database.


• Order confirmation is sent to you and to your customer.


• Using a computer system not connected to the Web, Finet will initiate an electronic funds transfer (EFT) from your customer’s bank account to yours.

EFT Features

• Additional Payment Acceptance Ability
• No Hardware or Software Required
• No Secure Server Required
• All US Checking Accounts Accepted
• Detailed Daily Reporting

Additional Payment Acceptance Ability
The more payment options that are available to your customers, the more likely it is that they will purchase from you. Though much of the buying public uses credit cards, many consumers either do not hold them or prefer not to use them. Only one out of four checking account customers hold credit cards with available lines of credit. Why limit your business to accepting only one form of payment? Accepting customers who prefer checking accounts will greatly expand your customer base. With EFT, Authotrans.com enables you to accept payment from personal and business checking accounts. No credit card merchant account is required. Instead of waiting for the “check in the mail” and matching payments to orders, EFT enables you to accept secure payments online. Billing expenses such as postage, invoicing, and bookkeeping are eliminated.

No Hardware or Software Required
EFT is included in Authotrans.com’s suite of services and is quickly and easily integrated into your existing online order forms. No software or hardware is required by you or your customers! Once Authotrans.com’s services are in place on your site, your work is done. When a customer places an order on your site, you and your customer receive immediate verification of the order. The information you receive includes the customer’s name, address, phone number, e-mail address, items ordered, and the order total.

Eliminate the Need for Your own Secure Server
Since Authotrans.com offers complete security on payments from any web site, there is no need for you or your customers to worry about information theft. With Authotrans.com, you can eliminate your need for a secure server. Authotrans.com’s system enables your customers to order online without ever having to transmit their account information over a non-secure Internet connection. Authotran.com’s services (Including EFT) are designed to work via the Internet using a proprietary system, a Netscape Commerce Server, PGP encryption and SSL. You do not need to invest in any security features for your site.

All US Checking Accounts Accepted
EFT is available to any merchant in the world who accepts payment in US funds. Customers can use checking accounts drawn on US banks.

File Upload EFT
Use this format to submit check transaction batches via the secure server. The correct file formatting must be used.

Detailed Reporting
Detailed reports are generated showing the customer information for each order. The reports are emailed to you on a daily basis. The emailed reports include an attached tab-delimited file of all orders. This file can be imported directly into your accounting system. These reports dramatically decrease your time spent for matching payments with orders.

EFT Processing Fees
For Processing rates and fees Contact Us.

Restrictions
EFT account requests are subject to review by Finet (acceptance rates are approximately 99%). Finet is unable to work with merchants in the travel industry or those who provide adult entertainment. Finet’s EFT service is available only for transactions under $1000.

How To Begin
EFT is available once you have Registered with Authotrans.com