Two Years Later, NY eCHECK’s Popularity Grows

                               Albany, NY (CompNewsNetwork) - The use of eCHECK, NYSIF's electronic option for policyholders to make premium payments, has shown consistent growth since its debut in July 2008. After two years, the number of eCHECK transactions has increased steadily with a 28 percent increase in the past year alone.

eCHECK has proven to be the quick and easy way for policyholders to pay workers' compensation and disability benefits premiums by electronic funds transfer from their bank accounts without charge, eliminating the hassles of writing and mailing payments.

In the past year the dollar amount of eCHECK payments has increased 33 percent and now eCHECK payments are outpacing credit card transactions four to one.

NYSIF Chief Deputy Executive Director Francine James said policyholder acceptance of eCHECK has surpassed all expectations. “It's a service our policyholders have found useful and convenient,” she said. “Now with two years' experience, usage tells the story.”                 

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