NSF Check Recovery Process Details

1. You, the merchant, sign our RCK Processing Agreement. There is no fee to sign up and start the service.
2. You also sign our Bank Authorization and we mail it to your bank.
3. We enter your merchant information into our database.
4. Dishonored Check Processing

1. NSF check arrives in the mail.
2. We enter the check into our database (name, amount, account, etc.). We send you an email informing you that a check was received for recovery.
3. If required by the state, a Notice of Re-deposit Letter is generated and mailed to check writer.
4. The check is submitted electronically for "re-presentment".
5. If / when the check clears (we try up to two times)...

1. 100% of the face value of your check is deposited directly into your account. A report is automatically generated and emailed to you - to keep you informed of all checks cleared.
2. An electronic debit (or paper draft) is submitted to the check writer's account for the state authorized fee. See our State Fees Allowed Listing to determine what this fee is in your State.

6. If the check does not clear on the 2nd submission or is ineligible (see "Exceptions" below), depending upon your stated preferences during the sign-up process, we either return the check to you or send it directly to collections (still at no charge to you).
7. Collections collects on check.
8. If / when the check clears, you receive 100% of the face value.

Notes:

• If you ever decide to opt out of our service, just call / write the bank & we will no longer receive your NSF checks. There is no charge to discontinue the service. If you are sending the checks manually, just stop sending them. You need do nothing else - although we would appreciate a phone call to tell us of your decision.
  
  
• According to industry statistics, you can expect that:

1. Approximately 65% of bounced checks get paid in step E above.
2. Of what goes to collections (step G), about 40% get paid
3. The overall expected recovery rate is about 80%.

Exceptions (because of NACHA rules):

• Payroll & company checks go directly to collections (step F).
• Checks over $2,500 go directly to collections (step F).

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