Check Representment

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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 ?
Accounts Receivable Conversion (ARC) and Re-presented Checks (RCK) Payment Solutions Provide Quicker Check Processing and Minimize Risks
And now, West Coast Bank has created an iDeposit(SM) website and added two additional payment solution services -- Accounts Receivable Conversion (ARC) and Re-Presented Checks (RCK).