There are many businesses that just do not have the time to be chasing after customers to collect bad or returned checks. There are more than $380 million bad checks that bounce every week. These returned checks (NSF) are not good if you are doing business at a high volume with ACH processing or if you are depositing physical checks at the local bank branch. Because now you are left with bank fees associated with Non Sufficient Funds.
The good news is that we offer companies an easy way for recovering the funds without incurring more cost on the bottom line if you decide to pursue the original debit to reduce the headache of check recovery. Our electronic check recovery software and systems are a great way for you to collect bad check. The advantage over the traditional method is that this is very low cost and will increase the recovery rate by more than 60% when compared to the traditional method of calling, and calling, and calling to collect funds. The great thing about our platform is that there are no additional bank fees for doing a redeposit on a check that comes back NSF.
You save money by not wasting your time calling the customer or sending them letter to pay you which can take anywhere from 30 to 90 days before your efforts materialize. Our systems only take between 2 to 4 days for you to get your money from the customers’ bank account. This is a very efficient and simple way to conduct business because we are able to recover at times, over 80% of NSF by utilizing a scheduling system without even contacting the customer during the entire process. In addition to this service, we have other services that will ping a person's bank account to make sure that it is an actual account and our system also allows you to verify whether that person has enough money in their bank account to begin with.
In most instances, it is never the intention of the customer to defraud your business. It is mostly likely a mistake with balancing the amount of money they have in their checking or savings account. By representing the check will often solve this problem for you, while you focus on other aspects of the day to day operations of your business.
We have an entire package for companies to use. We can setup an ACH Merchant Account for any business to enable them to process checks electronically. We allow you to verify checks and bank accounts as well as collect bounced checks via our system.
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