Bearer eCheckWhat Is Bearer eCheck?
Bearer eCheck is a nice transferable instrument for using on e-auctions, e-cash exchange services etc. It is only available to draw bearer eChecks with fixed amount. It may be claimed by any person willing to add funds to his Payweb account, be it established or newly-registered.
How Do I Draw Bearer eCheck?
Option to draw a Bearer eCheck is available only to verified Business Account holders.
It is easy to generate a Bearer eCheck. First you need to login and choose “Draw eCheck” in “My eChecks” section. You will see your current balance and a dropdown menu containing fixed amounts options. Choose the appropriate one for generation of your Bearer eCheck. Once chosen the final amount will appear on the right side of the window. This amount will be deducted from your Payweb account. Then click “Generate”.
Upon completion of this operation, your eCheck code (24 signs), the amount and the period of validity (a period for eCheck to be claimed – 12 months for a Bearer eCheck) will appear in the window. If the payment isn’t claimed within following 12 months, all funds from this eCheck will be automatically restored to your Payweb account.