Check Collection Service
COLLECTIONS AND RECOVERY
How effective is Check Recovery?
Check Recovery collects NSF check funds 80% of the time. Check Recovery has a success rate based on the fact that they monitor the customer's accounts for available funds on days when customer's are most likely to have funds in their accounts (13 times a month!).
When it sees the available funds, it submits the electronic transaction along with the NSF fee. Your payment is always the priority amount, over the NSF fee. If there are only funds enough to cover your check, the system will debit that amount first and try for their NSF fee later. Also, since the check has been transformed into an electronic item, it takes precedence over paper checks. The system even provides you a status report, so you can track the collection of the NSF checks. If the check remains uncollected after 30 days, you have the option of using an alternative collection service
QUICK FACTS
Traditional Check Collections are used (collectors call/mail letters).
Letters to customers include an image of the check.
Customers handled professionally and courteously.
Merchant doesn't have to make any collection calls.
Keeps you out of an uncomfortable/embarrassing customer service problem.
Automatic remittance of funds to the merchant's account twice each month.
HOW IT WORKS
No charge to you!
We handle all the difficult issues concerning check recovery so you don't have to.
Your payment is always the priority amount, over the NSF fee. If there are only funds enough to cover your check, the system will debit that amount first and try for their NSF fee later. Also, since the check has been transformed into an electronic item, it takes precedence over paper checks.
Related Articles
For small businesses, accepting credit card payments has become essential in today’s fast-paced, digital-first economy. However, navigating the complexities of credit card proces...
If your business has been labeled “high-risk” by payment processors, you may have encountered challenges when trying to open a merchant account. High-risk businesses face highe...
In the retail landscape, accepting various payment methods is crucial for meeting customer expectations and maximizing sales opportunities. While credit and debit cards dominate th...
In today’s fast-paced digital economy, accepting credit cards and other forms of electronic payment is essential for most businesses. A merchant account is the key to unlocking t...
In today’s fast-paced retail environment, having the right Point of Sale (POS) terminal is crucial for ensuring efficient transactions and providing a seamless customer experienc...
In an increasingly digital world, non-profit organizations must adapt to changing technology and donor preferences to maximize their fundraising potential. Online donation processi...
In today’s digital marketplace, having a reliable and efficient payment gateway is essential for e-commerce success. Payment gateways are the technology that securely authorizes ...
When managing a business, accepting credit card payments through merchant accounts can significantly boost sales and improve customer satisfaction. However, many business owners fi...
When your business needs funding, there are many financing options to consider, each with its own pros and cons. Two common options are merchant cash advances (MCAs) and traditiona...
For businesses that accept credit card payments, processing fees can quickly eat into profits. Understanding how to minimize these fees is essential to maximizing your bottom line....
