Benefits of Collecting Bounced Checks Electronically

	Benefits of Electronic Check Representment Lower Collection Costs - Most banks charge $3-$5 to redeposit a NSF check the first time and $4-$7 to redeposit a NSF check that returns a second time. Electric Checks representment service is offered to you, the merchant, at no cost. Dramatic Improvement in Collection Rate - The National Automated Clearing House Association (NACHA) reports increases in collection rates by as much as 50%-85% as compared to traditional collection methods. The faster the NSF check is represented electronically, the higher the recovery rate. Faster Deposit into the Merchant's Bank Account - Traditional collection methods take 30 to 60 days to recover NSF items. Electronic representment reduces the payment time to 7 business days. The 7 day period allow time for the check to be completely processed. Funds recovered electronically are then deposited directly into the merchant's account. Timing the NSF Check Representment - Electric Checks can time the representment to hit the bank on payday. This provides a greater chance of collection. Traditional methods do not provide the ability to time the collection.
	*Check Facts:* Did you know? Customers like to pay by check because of convenience, ease of use and its ability to float.