Frequently Asked Questions

 We only get a few checks returned.  Why should we use your service?

Even only one returned check is one check too many.  Every NSF check is potentially taking profits away from your organization.  If your business earns 10% profit on sales, your company will need $1,000 in new sales to overcome the effects of a $100 NSF check that is not redeposited. 

By utilizing our service you save the time and effort of having to contact the customers who gave you the bad checks.  No contact is required between your organization and the bad check writer.  Studies have shown that many customers are so embarrassed by writing an NSF check that they will shop somewhere else next time to avoid facing the company.  By us stepping between the customer and your organization, this sense of embarrassment can be removed and a customer can be retained.

The program looks good and we're interested, but occasionally we get a bad check that we have to handle very diplomatically.  If you process this check, there could be a problem.  What can we do?

You can instruct us not to process any specific customer's NSF checks.  If we are receiving the checks direct from your bank, when we receive this customers' checks, we will return them to you and you can contact the check writers however you choose.  If the returned checks are still going through your offices, you would simply not turn this customer's checks over to us for processing.

How do we sign up for this service?

Service commences with the completion and submission of the electronic service agreement and the bank authorization statement (optional).

Are there any minimum commitments (i.e. contract period, number of NSF checks to be processed)?

No.

Will we informed as to which checks have been returned?

If your bank is forwarding NSF checks directly to us, upon receiving the checks, we will fax or email copies to you.  If checks are being returned directly to your offices, then you will have the checks.  We will update you  (either by fax or email) as to the status of our redeposit efforts.

If we start the service and then decide we want to stop it, what do we do?

If your bank is forwarding the NSF checks directly to us, service is stopped by simply notifying your bank that NSF checks should no longer be returned to us.  If returned checks are going through your offices, service is stopped by simply not forwarding any NSF checks on to us for processing.

There is no such thing as a free lunch.  What will this service REALLY cost us?

Nothing.  This service proves that there can be a "free lunch".

How can electronically redepositing NSF checks result in improved collection rates?

When you use the traditional method of redepositing a bad check (i.e. taking the paper check back to the bank), you can only submit it one time for redeposit.  If it bounces again, it becomes a worhless piece of paper.  Under electronic processing, we are permitted two attmepts.  We monitor the account on a daily basis.  We will continue to monitor it either until there are funds to cover the check, 180 days has passed or you instruct us to stop.  We will not attempt to redeposit the check until the bank has confirmed to us that there are sufficient funds in the account to cover the amount of the check.  Our procedures result in a 95% redeposit rate on accounts that remain open.

If this is a free service, how are you compensated?

When the rule that created this service was passed in 1998, it established the fee that could be charged for providing this service.  The fee is set by each state and is equivalent to a bank's NSF fee.  The state in which our customer is located, determines which state rate is charged,  That fee is split among our company, the processor, the sales rep that signed the customer up for the service and the developer of the porgram.

An organization  choosing to use this service must either post a sign for customers to see stating "If your check is returned for nonsufficient funds (NSF), your account will be debited electronically for both face amount & returned check fees."  If customers are invoiced, the invoices would include this same message.  We supply an assortment of counter signs, adhessive backed and window decal signs, as well as peel off labels to place on invoices or statements.

What happens if the check can not be redeposited?

You have the option of either pursuing additional collection efforts (i.e. legal action) on your own or we can provide secondary collection services.  We work with a national collection agency that specializes in pursuing bad check writers.  There are no fees to utilize this additional service and you receive 100% of the monies collected.  This secondary service can also be used if the bad check writer has closed his/her account or issued a stop payment notice.  They will also pursue, at no cost, any older checks (beyond 180 days) either written before or after you starting using our service.

Are there any limitations or restrictions to this service?

The only limitations are that electronically we can not process checks that are over $2,500 and the checks must be drawn on a United States bank.  The location of the branch can be anywhere in the world, as long as its an American bank.