Press release - May 04, 2004

For Immediate Release

Last Echo asks “Are your returned check fees legal?”

Summary: May 4, 2004 Keene, NH – Last Echo finds that some merchants are charging illegal fees for returned checks and offers free access to a Web page to check these.

Released by:
 

During our interactions with different businesses we have discovered that some merchants are charging returned check fees that are too high – thus making them liable to fines or even prosecution.

Most states have determined a maximum amount that a merchant can charge for a dishonored check. If you are charging more than this, you are committing a violation of your state’s statutes. If you are charging less, then you are missing out on some potential extra income.

Of course we would like to process all of your NSF checks for you – at no cost to you – but if you would still like to continue to do your own recovery, we highly recommend that you at least take a look to see that your fees are within the allowed limits.

To find out what your state has determined as the allowed returned check fee, go to www.LastEcho.com and click on the ‘State Fees Allowed List’ page to find your state’s limits.

We are pleased to offer this free information as a public service to all of our fellow businesses.

About Last Echo

Last Echo uses innovative technology to simplify and improve the recovery process on returned checks. The widely used system helps businesses nationwide increase their collections on returned checks, while lowering associated transaction fees. Electronic check recovery is non-intrusive for your customer and eliminates the need for the check writer to become involved in the restitution.

Our mission is to increase your profitability by reducing non-productive overhead. Our service is provided at no cost to you (we charge the check writer, not you).

For additional information, please visit www.LastEcho.com or call 888.277.3027.

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