You want to accept checks from your customers. Even in today's plastic society, the volume of checks continues to increase. For many customers, it is still the preferred manner of payment. Not accepting checks is generally a deterrent to business and profitability. Why keep paying those huge merchant fees (also known as swipe-fees) when checks are processed free and even the bounced check collection is FREE!
Check Re-Presentment is a Revolutionary New NSF Check Collection Process
Electronic Check Re-presentment is the conversion of non-sufficient funds (NSF) and uncollected funds checks into electronic items. A notification sticker is posted at your checkout or placed on a website or invoice. That notification gives eBanc Collect! the authorization to withdraw funds from the checkwriter’s bank account PLUS the state maximum fee!
What Are The Benefits of Electronic Check Re-presentment?
Lower Collection Costs. Most banks charge $2 to $4 to redeposit a NSF check, whereas with eBanc Collect!’s program there is no charge for representing the item. With eBanc Collect! there is no charge for NSF checks that return a second or third time.
Dramatic Improvement in your Collection Rate. The National Automated Clearing House Association (NACHA) reports increases in collection rates by as much as 50% to 85% as compared to traditional collection methods. The faster the NSF check is represented electronically, the higher the recovery rate.
Faster Deposit to the Merchant's Bank Account. As an industry standard, it takes approximately 5 days from the time the file is received by the Automated Clearing House (ACH) Network to procure payment.
Timing the NSF Check Representment. eBanc Collect! can time the representment to hit on a payday. This provides a greater chance of collection. Traditional methods do not provide the ability to time the collection.
You don’t need to scan checks, pay monthly fees or rent equipment. No extra phone line is needed.
Call or contact Cash Flow Improvement Specialists today to discuss your NSF check system and your cash flow needs! You may enroll by downloading the forms from the link below and begin using the system right away. And stop at any time without penalty if you are unsatisfied. Call toll-free (877) 529-7871 if you have questions.
Click this link to download the free enrollment forms and detailed information.
The eBanc Automatic Check Collection Program Payout Chart
Phase ONE - eBanc Collect! FREE Program.
If eBanc recovers your funds, your business receives this amount deposited into your checking account.
Bounced check amount
You receive a rebate of:
We keep the balance of the “Bounce Fee” for our work. The checkwriter pays our fee – NOT YOU.
$7.00
+
$8.00
$15.00
$35.00
+
$8.00
$43.00
$65.00
+
$8.00
$73.00
$85.00
+
$8.00
$93.00
$100.00
+
$8.00
$108.00
$150.00
+
$8.00
$158.00
$300.00
+
$8.00
$308.00
$1,500.00
+
$8.00
$1,508.00
$3,500.00
+
$8.00
$3,508.00
$4,900.00
+
$8.00
$4,908.00
$7,800.00
+
$8.00
$7,808.00
If the check is written on a closed account or the money to honor the check is not in the account when eBanc electronically debits the account several times, the check will pass to Cash Flow Improvement Specialists for regular debt collection.
Hard Core Collections, Phase Two – All “Closed Account” checks and all uncollected “NSF” checks pass to Cash Flow Improvement Specialists for collection on a contingency basis. Checks are reported to the FOUR largest credit bureaus and are worked for several years!
Check Amount
Bounce Fee *
Total check
We Add Daily Compounding Interest(example shows 60 Days)
Total Amount We Attempt To Collect
You Recover 60% and We Do All The Work!
$7.00
$30.00
$37.00
$0.37
$37.37
$22.42
$35.00
$30.00
$65.00
$0.65
$65.65
$39.39
$65.00
$30.00
$95.00
$0.95
$95.95
$57.57
$85.00
$30.00
$115.00
$1.15
$116.15
$69.69
$100.00
$30.00
$130.00
$1.30
$131.30
$78.78
$150.00
$30.00
$180.00
$1.80
$181.80
$109.08
$300.00
$30.00
$330.00
$3.30
$333.30
$199.98
$1,500.00
$30.00
$1,530.00
$15.30
$1,545.30
$927.18
$3,500.00
$30.00
$3,530.00
$35.30
$3,565.30
$2,139.18
$4,900.00
$30.00
$4,930.00
$49.30
$4,979.30
$2,987.58
$7,800.00
$30.00
$7,830.00
$78.30
$7,908.30
$4,744.98
During this phase, the state maximum fee and compounding interest is added to the face amount of the check. A series of demand letters is mailed to the checkwriter. We call the checkwriter several times per week to demand payment. We have access to some cell phone numbers and unlisted phone numbers.
If the checkwriter won’t cooperate with payment, we may ask your permission to file suit to obtain a judgment, garnish wages, and/or tap bank accounts. We advance court fees and costs when possible.
* States have different bounce fees ranging from $20 to $40. We add the appropriate fee for your state to the check amount.
Also see Cash For Past-Due Accounts which includes any "NSF" or "Account Closed" check(s) you have from the past. Send those old checks to us for collections on a contingency commission basis! What do you have to lose?
Any and all information you submit to Cash Flow Improvement Specialists, Inc. will be held in strict confidence. We will never release, sell, or trade E-mail or private information for any reason. All order transactions are processed on our secure encrypted servers. All documents faxed to our office arrive in an extremely secure location, not available to the public.
IMPORTANT NOTICE!!! CHECK ACCEPTANCE POLICY. In the unlikely event that your check is returned for insufficient or held funds, we will debit your checking account electronically for the face amount of the check plus the state allowed fee. This Policy allows us to resolve the problem without reporting you to a credit bureau and harming your credit rating. The transaction will appear on your bank statement, and no one will have to contact you about payment.
Your submission of a cash flow worksheet and the consulting is free. You or your company are under no obligation to accept any cash offer we make for the funding of an accounts receivable financing (factoring) or purchase order funding worksheet, or the like.
Cash Flow Improvement Specialists and United First Financial does not provide accounting, tax, legal, real estate, mortgage or investment advice on this Website. Interested parties should seek and consult with persons and entities licensed and qualified in those areas for advice relating to those matters. The information contained herein is general and may not apply to your situation and does not substitute for the advice of an attorney.
Always consult an attorney with regard to your legal rights and obligations. Neither any page on this Website, text, graphics, downloadable information or form, products, services nor affiliated Internet Websites constitutes legal or tax advice. Always consult with a qualified tax advisor regarding tax consequences. The information contained on this Website does not constitute an offer or a solicitation to lend or extend credit.
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