A guide to Checks
Check is a paper document that delivers funds from one account to another (usually at different banks), via the Check Clearing House.
The Check has information such as Payor, Payee, Date, Amount, Memo, and Signature.
Using the information on the Check (such as the Payor’s Account Number and Routing Number and amount), the Check authorizes the Payee’s Bank (ODFI) to pull the funds from the Payor’s Bank (RDFI) account and deposit them into the Payee’s Bank Account.
Solid’s Payment capabilities support both –