If you login to the Settings > Merchant Gateway area of your control panel there will be an "Accept Checks" option that you will need to enable first.
Once that is done, then in each plan, you will need to set the Payment intervals. This is done in the Plans > Settings area.
Note: You cannot delete a Payment Interval you can only add or edit them.
Basically what you will need to do is to set that you will have a specific payment method for a certain plan, and then you can set that the plan has a yearly payment.
There is no way to force a customer to pay with a certain payment method if they choose a specifc payment interval. HSphere will allow any kind of payment you have enabled for all customers and plans according to how you have your Merchant Gateway settings setup.