Questions & Answers
What is the sound of a camel? What is love? How do you approve payments received by the system? And how may you view V-CHECK’s collection data? We will provide you with answers to at least some of these questions! Here is V-CHECK’s FAQ guide that will assist your ongoing system use. With pleasure
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Common Questions
Before opening an account, registration in the V-CHECK Company"s payments system is required through the Company"s website or by downloading the application in the Google or Apple virtual store for free! A short registration process is then carried out, in accordance with the instructions, including filing out personal details, a password and setting up a credit and debit account in which funds can start to be deposited, transferred to others and paid by V-CHECK.
Entry to the "Personal Area" on the www.v-check.co.il website shall be via the login password.
The personal area enables you to set up an account debit authorization (for the purpose of issuing payments), as well as view various receipts and payments which create your future cash flow. For your convenience, cash flow may be downloaded as Excel files.
A payment or a series of payments may be sent, deposited, transferred to a third party, defined and approved by a second signatory, as well as setting the account as credited only, and more.
For full use of V-CHECK's payment system, a debit authorization must be added. This can be done after login to V-CHECK and click on "Direct Debit Autorization" located on the menu.
Anyone with a mobile phone (smartphone) who is over 16 years of age can set up a V-CHECK account.
If the application is not installed on your mobile, you will receive a SMS with a link to invite you for registration – signing up is incredibly short and totally free of charge. After completing the registration, you may deposit a payment or transfer it to another
Please note: in case a registration will not be completed, the digital check will expire within 14 days and will become invalid for use.
After entering the system, click the “Send” button placed on the main screen. Then, fill out the details of the digital check: select a payee from the mobile device contacts and/or by typing a phone number (on the site). Specify the amount to be paid, the repayment date, and whether the check is payable to the named payee only or negotiable (transferable to third party).
After confirming the V-CHECK details, the payment will be sent to your contact (the addressee). In addition, you can choose to send a series of monthly/weekly/daily payments (up to 120 future payments) through the Company’s website.
Before sending the digital check, an account debit authorization must be set up in the personal area.
After login to V-CHECK, on the main screen (personal area), click on the payment request button, fill in the digital check information > recipient name through the contact list on your device and/or enter a phone number (on the website)> select the amount> choose repayment date and add comment.
Afterward, we will go to the payment request confirmation screen, click submit and the request will be sent to your contact (recipient).
In addition, a series of requests (up to 120 payments in advance) can be sent on a monthly/weekly/daily basis.
The validity of the payment request is 30 days since its creation date. After that it will become invalid. Exceptions to this case are flexible payment requests that have been partially approved or payment requests that have been approved by the payer and are awaiting for approval of his second signer.
After logging into V-CHECK, on "Payment Requests" screen > Requests I received> Click on the green V, the check details screen will open for confirmation> Click OK and then "Send" and the payment will be sent to the recipient.
The validity of the payment request is 30 days since its creation date. After that it will become invalid. Exceptions to this case are flexible payment requests that have been partially approved or payment requests that have been approved by the payer and are awaiting for approval of his second signer.
The collection system allows multiple payment requests to be sent to a large number of customers according to the payment terms defined by the parties.
Please note: before using V-CHECK’s collection system, select the right plan for your business in “Our Plans” tab.
After entering the Personal Area > Batch payment dropdown > Collection System > a 4-step screen will open to enable creating a collection process from multiple customers.
Screen 1
- Creating a title for the process
- Selecting the date range you would like to measure
- Choosing another name that will be reflected to the recipient of the payment request (who requests this payment)
- Selecting of date and amount flexibility (meaning the customer may change the repayment date and the amount paid)
- Selecting the frequency of customer reminders
Screen 2
On this screen, you are to download the excel sample file (question mark on the left side)> after downloading the excel file, the file should be filled based on the relevant sections> cause for collection > recipient name> mobile phone number> repayment date> E-mail address (may include up to 8 different e-mails )> Reference (non-mandatory field). Screen 3
On this screen, you may overview the excel file that was loaded on the previous screen> If data is correct, click Next, if data is invalid, a red mark will appear on the left side of the screen. Screen 4
On this screen you may view the collection process data just before sending, the name of the process, the number of requests, the total amount of all requests, the number of recipients requested for payment, clicking "Create Process" will send the messages and links for recipients payments. The "Delegation Users" package allows the account holder to send an invitation to manage his account to various users, thereby allowing them access to view and/or perform actions in the holder's account accordance with the permissions granted in the invitation.
Please note: before using V-CHECK’s Delegation, you need to select the right plan for your business in “Our Plans” tab.
How do I invite user?
- After clicking on the "Delegation Users" tab, click "Send Invite"
- Enter the "My user code" of the user we wish to invite. The user code can be found in "Profile Settings" tab
- Choose the permissions and click "Send invite"
- The recipient of the invitation is required to approve the invitation from his V-CHECK account by clicking on "Delegation Users"> "Received Invitations"> "Approve Invitations"
- The recipient of the invitation has 14 days to approve the invitation, otherwise it becomes expired. The invitation will appear under the tab "Sent Invitations" until the recipient decides whether to accept or decline the invitation
- The permission granted will be in "active" status as long as the user has not suspended it, and in any case, it is limited to the date on which the "Delegation Users "package of the user expires
What is the "Accounts" tab used for?
"Permitted Accounts" – This screen lists all users who have accepted the invitation, including the details of the permissions granted to them, the status of the permission (Active or Suspended) and the validity of the permissions.
"Managed Accounts" – This screen lists all the invitations that the user received from other users and approved, including the permissions that he received on each account, the status of the permission (Active or Suspended) and the validity of the permissions.
Where can I view actions made in my account by the users?
"Activity Log" - This screen lists all the actions performed in my account by the users who approved my invitation, including the type of action, the time the action was performed, etc.
Batch payment allows digital checks to be sent to a large number of customers according to the payment terms defined by the parties.
Please note: Batch payments are available to all V-CHECK customers and a premium package is not required. Before you start using this feature, make sure that your account has a valid debit authorization.
After entering the Personal Area > Batch payment dropdown > Send Batch > a 4-step screen will open to enable creating a batch payment process for multiple recipients.
Screen 1
- Creating a title for the process
- Selecting an account
- Choosing the bank from which we would like to make the payment
Screen 2
On this screen, you are to download the excel sample file (question mark on the left side)> after downloading the excel file, the file should be filled based on the relevant sections> mobile phone number > what are you paying for > amount to be paid> repayment date> Is negotiable> Remarks (non-mandatory field). Screen 3
On this screen, you may overview the excel file that was loaded on the previous screen> If data is correct, click Next, if data is invalid, a red mark will appear on the left side of the screen. Screen 4
On this screen you may view the batch paymennt process data just before sending, the name of the process, the number of payments, the total amount of all payments, the number of recipients who will get the payments, clicking "Create process" will send the messages and links for recipients payments. On the "Payment Requests" screen> Requests I sent> Advanced Button> Collection system (Selection), this screen presents our collection process. You may close payment requests received by other means by marking the green V or reject payments received by clicking the red X.
You can view statistics on your collection rates for each collection sprint separately.
The system, of course, reminds your customers regularly about your payment.
Application:
On the “Account Details” screen, on the “V-CHECK Received” tab.
Site:
Payments received will appear on your V-CHECK account. You may receive cash, post-dated, negotiable, or payee only checks.
Negotiable and post-dated checks received in your account may be endorsed or deposited in the bank account according to the bank account details provided by you.
A "payee only" check received in your account may be deposited using the bank account information you entered.
Defining a second signatory in the account allows you to transfer a digital check that has been written from your account to the second signatory for approval (a contact you have defined). After the second signatory"s approval, the check will be sent to the payee.
Defining a second signatory can be done during the initial registration or by changing the settings.
Points to note:
• A digital check sent to the second signatory shall become invalid if not approved by him within 14 days of receipt.
• Defining a second signatory shall mean that all V-CHECKs submitted for signature shall be sent to the new signatory whose details were entered in the system.
• Canceling the definition of a second "signatory" completely (without defining a new second signatory) shall not eliminate the need for the second signatory to approve checks that were sent to him prior to that cancellation.
Upon receiving a digital check, 3 main actions can be taken:
Deposit
A digital check bearing an immediate repayment date can be deposited as can a deferred check in which case a deferred deposit will be made. In practice, on the repayment date, the money shall be deposited as required in accordance with your payment instructions.
Transfer
A negotiable digital check received in your account can be transferred to a third party
Rejection
Rejection of payment Should you do not wish to receive the payment for any reason, it can be rejected. In this situation, the digital check returns to the last party that transferred it. If the reject instruction returns the digital check to the party who originally wrote it, then the digital check shall become invalid.
It should be noted that once the repayment date has arrived, it shall no longer be possible to transfer or defer the payment. Should the digital check have been deposited or deposited as deferred by you and the repayment date has passed, the action cannot be cancelled.
The maximum figure for a single digital check is NIS 20,000. The total expenses in the account shall not exceed NIS 100,000.
You can contact V-CHECK to increase the expenditure limit - 972-077-8100431 [email protected]
There is no limit to the number of times that a negotiable payment can be endorsed. However, once the repayment date has arrived, the digital check can no longer be transferred/traded but only deposited. It should be noted that a digital check can be deposited up to two week after its repayment date and thereafter it becomes invalid.
The repayment date is the last date on which an action may be taken in relation to a payment received in your account, such as endorsement or rejection. It should be noted that a digital check can be deposited up to one week after its repayment date and thereafter the receipt becomes invalid. It should also be noted that after a deposit or a deferred deposit has already been made, the action of depositing the money in the bank account defined in the V-CHECK account begins on the repayment date.
Please note: money shall be transferred to your account within 3-5 business days from the date of the actual deposit.
Receipt/payment by V-CHECK does not constitute a bill under the Bills of Exchange Ordinance.
Please note that the realization of the rights upon the return of a digital check can be done through Section 81A (a fixed transaction) of the Execution Law or within the framework of a summary procedure claim.
The digital check writer can see the details of the payment that was sent and the details of the digital check holder at any given time.
The digital check writer can also see the change in the balance of his account at any given time.
1. Pending
A new digital check (whether negotiable or payee only) sent by a user will be shown under "pending" status until an order will be provided by the recipient. Once the recipient places an order - "deposit/transfer/reject" – the check writer shall be able to see the change in status of the payment in the digital check details.
2. Deferred deposit
Receipt of the check and its future repayment date shall appear on the “Account Details” screen. The recipient can place a "deferred deposit" instruction under which the digital check shall be deposited in advance, before the repayment date has arrived.
3. Deposit processing
A status created by clicking on the control button, between the repayment date and the actual transfer of the check into the payee’s account.
4. Deposited
When a digital check has been received and the repayment date has arrived or written for immediate payment, the recipient may enter a deposit instruction, in which case, the status will change to “pending” (in the process of deposit). Once the actual payment has been transferred, its status will be changed to "deposited".
5. Transferred
A digital check received shall appear on the "V-CHECK’s Received" screen, with "pending" status. The recipient may endorse the check, and by doing so its status shall be changed to "transferred".
6. Transferred (deposited)
A digital check transferred by a second party to a third party, etc., will appear with "transferred" status until a "deposit" has been made, and its status will then change to "transferred" (deposited).
7. Invalid
Should the recipient of the digital check not deposit it within 14 days of its repayment date for any reason, the digital check shall become invalid. In other words, it may no longer be deposited and no further action may be taken in relation to it.
8. Rejected
The recipient of the digital check can refuse to accept the payment, in which case it shall be returned to the last person who forwarded it.
9. Second signatory pending (awaiting signature)
A digital check was transferred for the approval of a second signatory which has yet to provide the signature. The digital check will appear in the sender’s account with "awaiting signature" status.
10. Rejected (second signatory)
A digital check was transferred to a second signatory for approval and was rejected for signatory. The status will change to "rejected" (second signatory).
At the top of your Account Details screen the amount of the future receipt will appear at the top of your "V-CHECK received" screen. Please note that the system calculates the total of payments received and which are classified as "Deposit Processing", "Deferred Deposit" and "Pending."
On the Account Details screen, the amount of the future charge will appear at the top of the "V-CHECK Sent" screen. Please note that the system calculates the total of receipts sent and which are classified as "Pending", "Second Signatory Pending (awaiting signature)", "Deposit Processing" and "Deferred Deposit".
The system supports versions IOS 6S or above when fingerprint identification is required to use the system and as regards the ANDROID system the various versions currently available in the local market.
Extensive details of payments and receipts for up to the last two years can be viewed in the personal area by filtering.
Debit and credit payments can be made through the following banks: Poalim, Leumi, Discount, Mizrachi, First International, Mercantile, Postal Bank, Citi Bank, Arab Israel Bank, Massad, Yahav, Otsar Hahayal, Jerusalem, Poalei Agudat Israel and One Zero Digital Bank.
V-CHECK undertakes to comply with the strictest information security codes and to operate in light of the highest standards. Your money shall be protected in the most secure method. We conform with the TLS 1.3 Security Protocol.
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When entering the personal area or application, follow the step-by-step instructions for changing the password (login screen).
A future value date of up to two years forward can be recorded on a V-CHECK.
V-CHECK Company's payment system and the mobile application are approved in the official app stores of Askan and Nativ.
Religious/Observant customers are welcome to download our apps from the stores.