Personal Small Business Corporate & Institutional About Us
Currently, several options exist for businesses to convert checks to electronic transactions. Companies can collect remittance information from checks at the time the check is received in person and return the voided check to the consumer. These items are called Point-of-Purchase (POP) transactions. Companies can also convert checks when they are received through the mail or in a bill payment dropbox. These items are called Accounts Receivable Conversion or ARC items.
New Conversion Option Available On March 16, 2007
A third type of check conversion application, Back Office Conversion, or BOC, will become available. BOC establishes the legal framework and technical specifications to enable retailers and other merchants to accept checks for payment at the point of purchase and convert those checks to ACH debit entries during back office processing at a centralized location.
NACHA, the National Automated Clearinghouse Association, established the following procedure for converting checks to BOC entries.
Other relevant revisions to the NACHA rules effective March 16, 2007:
Read a summary of privacy rights for California residents which outlines the types of information we collect, and how and why we use that information.
We have tools to help you bank when and where you want.Mobile Apps Directory »
Be part of our inclusive culture that strives for excellence and rewards talent.Visit PNC Careers »
The PNC Financial Services Group, Inc. All rights reserved.