Understanding the Implications of Transactions Involving Personal Checks and Debit Cards

The world of transactions is not horribly difficult to understand, until one looks below the surface. Any business owner should understand the basics of accepting different forms of payment, as well as how to interact with their customers and clients in non-standard situations. For the most part, a consumer picks up a product or orders a service, the cashier initializes the transaction and totals the bill, and the consumer hands over some form of payment.

If the customer pays with personal checks, then the employee must verify the information on the check with a photo ID, verify the authenticity and dollar amount of the check against the amount in the customer’s account through a computer process, and then print a receipt for the customer. Later that evening or within the next few days, the clerk will submit the check to the bank, who will then communicate with the customer’s bank, withdrawing the necessary amount.

If the payment was in cash, the cashier opens the till, deposits the money, withdraws the change, and provides the consumer with a receipt. For the business who accepts debit and credit cards, the initial process is not unlike that of checks. After verifying the ID, amount, validity, and customers ability to pay, the cashier provides a receipt and files the transaction to process later. If the customer used a debit card, the payment will have already posted and only verification remains; for credit cards, the cashier must batch-out for the evening, at which point the bank will be notified of the payment and withdraw funds within the next seven days.

Any employee should also be well versed in the ramifications of their attitude and conversations during the transaction phase of the sale. Whether they order checks, a new car, lawn service, or are paying for groceries, the consumer is giving away hard-earned cash with the expectations of a quality product. It is in this mentality that the customer also expects their “service with a smile,” and may quickly become belligerent if anything begins to go wrong.

If the customer is paying with plastic or personal checks, and the payment has been denied, politely offer to run the payment again while handing them the denial slip. If the transaction still fails and there is no other form of payment available, politely ask the consumer if they would like the product to be placed on hold until they return. At this point, store policy will dictate whether the customer will be able to contact the bank on the phone and how long the product can be held for.

In a more light-hearted event, when the consumer is using photo checks or personalized credit and debit cards, building small talk around the events and images depicted will help to increase the consumer’s level ease regarding the transaction, as well as build rapport and a sense of caring between them and the business. Ultimately, this will lead to a returned customer and increased sales, a true benefit for the company and its employees.