MyECheck Inc (fka MYEC)

[Whale Gunna]

how MYEC works is when a consumer wants to use MYEC a virtual check will come and the person fills it out, then using check 21 clearing the check is sent to MYEC where a security check is done then its sent to Bank of Kentucky where it is cleared and sent to the person receiving the moneys checking account, all this is done between 3-5 seconds and the customer only has to pay a 1% fee, so if they use this instead of a credit card they avoid the 2.9% fee to send the money aswell as not having to pay the 12.99% APR on credit cards, basically it makes everyone very happy and MYEC a lot of dough. its very easy for companies to use all they need is a checking account and they just have link it with their MYEC checkout option very easy. this is the best way to transfer money electronically. if you want another explanation to that question ask GM_Tech he knows more about the check 21 clearing