Bounced check collection service
For a "free and easy check recovery service, visit
www.bumchecks.com
Each day hundreds of people visit various Internet sites through Google and Yahoo in search of some way to collect bounced checks. Sometimes those performing these searches are landlords seeking to collect their first bounced check. Others are small business owners (perhaps new business owners) who were stuck with their first non sufficient funds checks A few businesses find themselves in need of a new bounced check recovery service because the service they had been using went out of business.
Bounced check collection is an important part of most
businesses for several reasons. First, it is usually best for
businesses to accept checks. Unlike credit cards, merchants are
not charged a fee for accepting checks. Second, about 98% of all
checks a business receives will clear the bank without difficulty.
Third, a good NSF check collection service can collect most of the 1-2% of the
returned checks a business receives within a period of 1-60 days.
Fourth, some bounced check collection services are completely free to
businesses (NSF check writes pay the check collection costs).
If a businesses chooses the right bounced check recovery service, it can
receive back the full value of collected NSF checks. There are
even a few services that offer 100% back on collected NSF checks
plus part of the
NSF check fee paid by bad check writers.
When a businesses advertises itself as a NSF check processor or a collection of NSF checks, it will almost always use Electronic NSF Check Re-presentment. This collection tool offers several benefits, some of which are these:
·
It can eliminate the collection costs incurred by businesses
·
It helps collection agencies
improve their NSF check collection rate
·
It helps lower bank fees since checks are not deposited a second time
·
It lessens embarrassment to customers
HOW BOUNCED CHECK COLLECTION SERVICES ARE USUALLY MARKETED
·
No sign up or set up fee!
·
Frequent payment of collected funds (often weekly or bi-weekly)
·
No monthly minimums, or low monthly minimums
·
No additional equipment is needed
·
NSF checks from $1.00 to $2,500 may be processed in this manner
· Checks up to 180 days old can be processed with RCK
·
Sometimes a collection services offers an on-line reporting feature
A bounced check collection service that uses Electronic Check Re-Presentment is very good, but some check collection services take things a step further. They also report bad check writers to a bad check data base, one of which is the National Check Network.
If you are considering a bounced check recovery service, ask some questions--a lot of questions. You may find some excellent questions on nsfcheckrecoveryservice.com. If you are interested in trying to collect NSF checks on your own, you may find some assistance on-line at the National Check Fraud Center. In some states there is also the option of using the local police department or District Attorney program. A nice web site to find your local "D.A." use my "find your prosecutor bad check restitution program" link.