Once the payment is made you have to print off the "booking visa and electronic receipt" form and send to the Thai Embassey with your passport. Once they had the receipt and passport it took about three-four (estimate) days to be completed and passport returned. The Process is extremely fast it was my mistakes etc that made the application a long process.
I used Bangkok Bank. Not because they were the cheapest but because I already used them for two years prior to the new legislation. Ive seen adverts in this group for companies with a lower price. But sometimes cheaper isn't always best. Hindsight might be a wonderful thing later but I needed the insurance for the visa. So my opinion may change once back in Thailand and talking to some of the seasoned stayers.