Checkdepo is our next evolution.
Check Security Services of America concentrated its efforts on checks in 1978.
It started with printed hot check lists at the register — a clerk looking up whether a name was on the sheet. Then touch-tone phones, then the credit card terminals that spread across counters in the eighties, then dedicated check readers. Every step put more equipment on the counter.
By 1992 the business was big enough that National City Corporation bought it, merging it into National Processing Company, which handled one in six Visa and Mastercard transactions in the country.
The nineties brought conversion — NACHA's check programs moved checks over ACH for the first time, and one of the first point-of-sale patents for settling a payment online, directly into a merchant's bank account. Then Check 21, and the paper stopped traveling at all.
Then nothing, for twenty years.
Every one of those changes needed new hardware at the register or a new operation at the bank. This one needs a phone.
BioeFunds LLC operates Checkdepo. Your agreement is with us.
Check Plus Systems provides the authorization behind every decision — whether a check should be taken, in the moment it's handed over.
Recovery is handled by a licensed collection operation. When a check comes back, it doesn't land back on your desk.
One agreement, one place to call.
Most processors have walked away from checks because the transaction count is falling. They're reading the wrong number.
Americans still write $24.45 trillion in checks a year, and the average one is now $2,653 — rent, contractors, professional fees, B2B. Paying three percent to a card network on payments that size is outrageous, and the people writing those checks aren't going to stop.
Somebody has to handle that. It's what we do.
Average check size: Federal Reserve Payments Study, 2024 data.