Electronic Check Re-Presentment
What is check re-presentment?
Check representment is an automated, consumer friendly, electronic process to collect returned checks. For the merchant, the check acceptance process at the point of sale is virtually the same. You're not bothered with collection issues, instead, your bank mails us all your returned checks. We re-present them up to two times electronically through the Automated Clearing House (ACH). The second re-presentment is on the 1st or 16th of the month to increase success rates. This is the safest and best way to monitor your checks.
Check Representment Info
If a check is returned paper or electronically you can represent it a few more times to see if it goes through. In another model if you take checks and have a stack you might be able to collect if it bounces and the processor can run those funds again. You can only do it a few times to allow for payment.
You are paid 100% of the face amount of the check upon collection. Funds are electronically credited to your account twice a month.
QUICK FACTS
You're not bothered with collection issues – focus on your core business instead.
Your bank mails us all your returned checks. We re-present them up to two times electronically through the Automated Clearing House (ACH).
The second re-presentment is on the 1st or 16th of the month to increase success rates.
You are paid 100% of the face amount of the check upon collection. Funds are electronically credited to your account twice a month.
HIGHLIGHTS
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