Check Representment

Check Representment

A process in which a check is deposited as many times as is necessary in order for it to clear. That is, if a check does not have sufficient funds in the account to be deposited, the bank continues to deposit it until funds become available and the check finally clears. This allows the recipient of the check to (eventually) receive funds on a check that would otherwise bounce and saves the writer of the check from having to pay an NSF fee.
References in periodicals archive ?
As a member of the LML group of companies, we will continue our high level of service, but are also in a position to deliver additional service options including: Electronic Check Representment and LML's patented Electronic Check Conversion services.
Under the agreement, HIMC/Fast Transact will develop check imaging, check verification, check representment, credit card processing and online billing payment solutions to be integrated into Vermont's POS (Point of Sale) terminals.
Under the proposed agreement, HIMC/Fast Transact will develop check imaging, check verification, check representment, credit card processing and online billing payment solutions integrated into Vermont's POS (Point of Sale) systems.
This application allows for the selection of check, ACH, credit/debit card or check representment (RCK) options for the transaction based upon your needs.