What is it?

• Check conversion is simply the method Thrivent Financial uses to electronically process payments you make by check.
• When you write a check that may be converted into an electronic payment and processed through the ACH network, some information - your name, the ID (routing) number of your bank, and your account number - is captured from your check, and a one-time electronic payment is made from your account.
• You will not need to do anything new or different. The major change is how Thrivent Financial processes the payment.
• Check conversion saves money by reducing paper and time needed to process paper checks, while increasing the security of your account information.
• Companies are required to provide notification of their intent to electronically convert checks. Notification can be found on the back of your Thrivent Financial premium notice.

How does it work?

• The member writes a paper check, and sends it to Thrivent Financial.
• The information pertinent to your check payment is automatically captured for this process. This information includes the ID (routing number) of your bank, your account number, check number, and the amount of your payment.
• The data captured from your paper check is presented to your financial institution and your account is debited. The possibility for human error is greatly reduced, and the process considerably simplified, since this is all done electronically.
• Thrivent Financial will make an image of your check and destroy the original paper document to ensure that it cannot be used for any other purpose. The image of your original check is archived so that you can request it if you need it later.
• The statement from your bank will detail the payment, which may appear similar to a check listing, or show up as an Electronic Funds Transfer (EFT), similar to an ATM withdrawal or Direct Payment.