The end of pre-printed checks

Using pre-printed checks for your payment processing sounded like such a good idea at the time. Your customers, agents and vendors would all receive a professional-looking check complete with your logo, address, and bank information. But then you added another payment system with its own set of requirements. And then you acquired a subsidiary with a different address. Soon one inventory of check stock became four inventories…

…and that’s when you started noticing problems.

Pre-Printed vs. Blank Check Stock

Blank check stock offers clear advantages over its pre-printed counterpart. With PayPilot’s MICR (magnetic ink character recognition) laser check printing, you can centralize all your payment processes using one blank stock and apply data-driven check layouts for all your different operations. Some of the many advantages include:

Cost – Blank stock is significantly less expensive than pre-printed stock.
Changes – Any changes to your bank, address, or logo require you to replace your entire pre-printed inventory (and wait for its arrival). With PayPilot, an authorized user simply updates the check layout in the database and the change takes effect immediately.
Errors – Check numbers on pre-printed stock can easily get out of sync with what your software expects them to be. This is never an issue with blank stock.
Voids and Re-Issues – Are a chronic problem made needlessly more complicated when dealing with pre-printed checks.
Security – Pre-printed stock can be stolen, and the party responsible can easily issue their own checks simply by filling in the blanks. PayPilot, along with the use of blank stock, negates this risk and adds further security through the use of authorized system access and detailed audit trails tracking all issued payments.
Hassle – If you employ several payment systems today, you know how cumbersome it is to manage your processes using multiple printers, multiple checks stocks, accommodating batch and hot runs, etc. Blank stock drastically simplifies your payments, eliminating complex and hard-to-maintain disbursement processes and reducing costs.

Ultimate Flexibility

PayPilot’s MICR laser check software adapts to any set of systems that issue payments: general ledger, claims, policy, accounts payable, and more. For insurance clients, the software also handles specific lines of business such as property & casualty, workers’ compensation and disability, among others. Perhaps the best feature of the software, however, is its ability to let you set the pace of your conversion to MICR laser check printing. Implement MICR payments one department at a time, or company-wide—it’s up to you!

70% Savings

Switching from pre-printed to blank safety stock can save 70% of processing costs on every check issued. The savings are greatest when checks are printed for multiple companies and/or multiple bank accounts. Incorporating digital signatures further extends the cost reductions by eliminating key manual steps in your process.

Enhanced Functionality

With PayPilot processing your checks on blank stock, you also have at your disposal a number of easy-to-add expansion modules that can significantly increase your payment capabilities. Bank reconciliation, positive pay security, electronic payments, escheat processing, and OFAC compliance are just some of the features that can be included with the initial MICR installation, or added over time.

Pre-printed checks for payment processing may have sounded like a good idea at the time, but now, with MICR technology delivering such compelling benefits, blank stock is the preferred way to go. Contact us today to see how we can implement MICR laser check printing at your company.