Electronic check recovery will bring you fast notification of returned checks, dramatic reduction in bank fees, and automated electronic re-presentment - all adding up to significant savings in time and money.

Electronic check recovery will help you collect funds that you have earned already. When your bank returns paper checks to you for non-sufficient funds, it can be a difficult challenge to collect your cash. Are you currently re-depositing paper checks at your local bank branch? With Smart Payment Solutions' Return Re-presentment, you can convert a returned paper check into an ACH transaction, and you can precisely control when the transaction will hit the customer's bank account. This means that you can target the retry for dates when you believe there may be cash in the account, like on a payday. You can also customize our system to do this automatically. If the first transaction was an ACH transaction, and not a paper check, then re-presentment is even easier. Return re-presentment is a great solution for any business or organizations that receives any number of checks returned for non-sufficient funds.

Benefits

Receive more rapid notification of returns
Banks typically take a minimum of 7-10 days to notify you that a customer’s check will be returned for non-sufficient funds, often through an inconvenient fax process. With ACH transactions, you will be notified of returns within 1-4 days and that means you will have a better chance to collect your cash.

Increase collections on returned transactions
Quicker notification of the return will increase your ability to resolve the issue with the customer. Return re-presentment allows you to strategically choose the dates on which you hit the customer’s bank account. Most users of this technology see significant increases in collection rates.

Reduce administrative costs
Relieve your staff of the burden of manually re-presenting and tracking returned transactions. Your staff’s time is better utilized on core business issues.

Reduce bank fees
Banks charge you and your customers large fees for returned transactions. Our fees are significantly lower and will result in savings that will enhance your bottom-line.


Could your organization benefit from reducing bad check losses? Learn more!