Bad Check Recovery
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Are Bounced Checks (NSF or Bad Checks) a Problem?
Our Check Recovery Service is the Solution!
Our check recovery recovers your bounced checks (nsf or bad checks) for you ... costs you nothing ... and is a viable alternative to any collection agency.
Which part of the equation don't you like???
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Check recovery recovers your bounced checks (nsf or bad checks) faster.
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Check recovery eliminates the need for any collection agency or expensive check guarantee service and increases your recovery ratio.
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How our Check Recovery Recovers Your Money... FAST
With our merchant account company's check recovery, your bank automatically forwards any bounced checks (nsf or bad checks) you receive to the our processing center, bypassing conventional collecting methods by converting it to an electronic item. There is no need for you to call the customer to try to collect the money, or make them settle the funds in person.
Check recovery is an automated electronic process that deducts the money from the check bouncer's account. Then you can get back to doing what you do best: running your business.
Leave the work of dealing with bounced checks (nsf or bad checks) to professionals like us. With our check recovery, You'll have less stress, more time, and reduce your losses from bad checks by a significant margin. Best of all, there is absolutely NO COST to you for collecting this money. We serve in the capacity of a free collection agency!
Take a Look at our Check Recovery Advantages:
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No minimum or maximum number of checks or dollar amounts.
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No special equipment required.
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No long-term contracts.
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All collected checks are automatically paid to you.
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Collections processed on ANY bank in the US Federal Reserve System.
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Out-of-town checks are handled just as easily as local checks.
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Online real-time reporting available via the Internet.
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Our check recovery is available to any business anywhere that takes checks.
Any business that accepts checks as payment for goods and services will soon be confronted with the aggravating news that a check has bounced. While the overwhelming majority of check writers do not overdraft their accounts, too many intentionally or accidentally bounce their checks. It is estimated that over a million checks are returned unpaid every day primarily due to insufficient funds.
Receiving a bounced check (NSF or bad check) presents a hardship to any business owner who not only receives an associated NSF bank fee, but must allocate time and resources to collecting the funds. The adage, "good money chasing bad" applies here as it may be a costly endeavor to recoup the owed payment. Collection agencies usually charge significant fees (some as high as 35% of the face value of the bad check). Similarly, if the business owner decides to engage in his/her own collection process, he/she may sometimes spend more than the face value of the check to collect the debt!
Are you considering a check guarantee company to prevent an NSF check problem? Realize that check guarantee companies remain in business because they take in more money than they dole out. In any number of business-related newsgroups, you may see the following comments directed towards check guarantee companies:
"They did not honor the check although they said they would!"
"It costs a fortune!"
"It took forever to reach their customer service line!"
These are just several of the criticisms posed, reflecting the fact that the check guarantee process is often not the best option to deal with bad checks.
While businesses should accept checks (as it increases profit margins), there must exist a better way to help collect NSF items.
With that in mind, business owners need to be aware that they can participate in a FREE check recovery program. It is simple to understand and implement, described as follows:
| Step 1 - The owner sends an authorization note to his/her bank (which we provide), indicating that any bounced check should be sent directly to our Processor.
Step 2 - The merchant stamps all customers' checks with a stamp whose words remind the customer that any NSF check may be collected electronically with a state-allowed penalty. (This message alone has discouraged many people from even thinking about trying to bounce a check!)
Step 3 - Upon receiving any bad check, the Processor enters the check into a database where it is automatically re-submitted electronically via the Automated Clearing House (ACH) network two additional times, if necessary. In other words, two more attempts are made to collect the owed funds. The merchant does not have to do any work as this occurs as a result of the Processor's action. (If the funds are collected electronically - which occurs about 70% of the time - the owner may very well be entitled to a rebate in addition to the face value of the check.)
Step 4 - If the funds cannot be collected electronically, the check is sent to the Processor's paper collections division where the owner still receives 100% of the face value of the check upon collection - a radical departure from all collection agencies! |
Imagine ... only 4 easy steps to solve NSF problems - at no charge to the owner! Moreover, the owner may access the status of all his/her NSF checks via the Internet anytime - 24 hours a day, 7 days a week.
Any business owner must consider our check recovery as it should save a lot of money and headaches!
New Service: Check Consolidation for Business Owners with Multiple Locations - Logical Compliment to our Electronic Check Recovery Service
IntelliCollect is proud to feature our new check consolidation service! Let our participating bank receive all your NSF, bounced checks from your multiple locations. Greatly reduce your overall returned check fees, increase cash flow, streamline your NSF, bounced check process and gain an opportunity to clear these bad checks two additional times electronically.
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