You deposit a customer's check, and it bounces at your bank.
Your bank charges the check against your account and forwards it to the national processing center.
We re-submit the check electronically, via Automated Clearing House (ACH), to the customer's bank.
If the customer has the funds, the check will clear and the money is remitted to you.
If our collection division is unable to collect on the check, it will be returned to you.
If the customer does not
have the funds, the ACH
check is returned to us.
We
will contact the customer's
bank daily to verify funds
before re-submitting.
If the customer still does
not have the funds, we
send the ACH check to our
hard collection division.
If our collection division
collects on the check, 90%
of the check's face value is
sent to you.
