Personal eCheckWhat Is Personal eCheck?
Any verified Payweb user (either Business Account or Debit Card holder) can generate a Personal eCheck, i.e. the check which has a designated payee. It can help you to secure your transactions on the web and do escrow payments.
You can use a Personal eCheck, for example, if you want to purchase an item from a merchant which accepts Payweb. In this case you need to generate a check assigned to the payee's Payweb ID and provide him with first 14-digits of the code. The merchant can verify that there are funds reserved by this check and provide you with goods or services purchased. Once it’s done, you will need to provide him with the rest of eCheck’s code. That will allow the merchant to successfully claim the funds.
As a recipient of a Personal eCheck, once you verified it, you can be sure that the drawee will not skip town with your money. You can submit your claim anytime during validity period of the eCheck to our Dispute Settlement Dept. if the drawee fails to provide you with the rest of eCheck code.
How Do I Draw Personal eCheck?
Generation of a Personal eCheck is easy too. To draw a Personal eCheck you will need to submit amount of the eCheck as well as Payweb ID of the payee. Personal eCheck amount is voluntary. Please note that Personal eChecks usually are valid for a shorter period of time than those for Bearer (one month by default).