Free Electronic Check Re-presentment & Recovery (RCK)...


Collection Expense & Hassles Are In The Past

 

All merchants accepting either paper or electronic checks will benefit with this FREE service.  RCK will streamline and eliminate merchant administrative back room return check collection cost and workload.  Lower operating cost, reduced workload and improved collection rate are a few of the benefits gained.   



Consumers Expect Convenience

 

Free Electronic Check Re-Presentment (RCK): 

With RCK there is no minimum or maximum check dollar amount eligible for this service and there is no  minimum or maximum number of checks requirements.

Merchant Benefits:

  • Merchants are not bothered with collection issues more time to focus on core business issues instead.
  • Returned checks are re-presented up to two times electronically through the Automated Clearing House (ACH).
  • The second re-presentment is on the 1st or 16th of the month to increase success rates.
  • Merchants are paid 100% of the face amount of the check upon collection. Funds are electronically direct deposited to the merchant account twice a month.
  • No collection fees or charge to merchants.
  • Merchants receive automatic reimbursement once checks are collected.
  • Payday re-presentment on the 1st and 16th  improves chance of collection.
  • Customer service - 24 hours a day, 7 days a week including holidays.

With this RCK all returned checks are routed to the Electronic Check Re-Presentment Services Provider.  Within 24 hours, the Service Provider will automatically Electronically Re-present the returned check to the check writer's bank for payment.  Recovered funds equal to 100% of the check face value are direct deposited to the merchant account.  All state allowed returned check fees are retained by the Service Provider as compensation.

If the first Electronic Re-presentment fails to recover the check funds, then a second Electronic Re-presentment will be made on either the first or sixteenth day of the month at a time when most accounts have maximum funds available and the above process will be repeated.

Check Collection Recovery Service - If both the first and second Electronic Re-presentment fails to recover the check funds, then the returned check will be turned over to a certified and trained professional collection agency where all legal and reasonable efforts are made to recover the check face value, plus state allowed returned check fees. All recovered checks are direct deposited to the merchant account.  All state allowed fees are retained by the Service Provider as compensation.

Optional Service:  Most merchant banks are charging merchants between $3.00 - $12.00 for each returned check.  Eliminate bank returned check fees by signing up for Consolidated Returns (RCC). See (RCC) Details

Merchants can now focus on their core business and let RCK take care of the collections.

"Providing consumers convenience and payment transfer solutions business leaders depend on is our business"

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