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 ?
with returned check management services including Consolidated Returns, Re-presented Check Entry (RCK), and Double PostCard Service Fee Recovery.
The Standard Entry Class for Re-presented Check Entry (RCK) adopted by NACHA-The Electronic Payments Association allows for the conversion of returned checks to electronic transactions.
The product also supports re-presented check entries (RCK) - an entry class that enables an organization to significantly improve the collection rate on paper checks returned for insufficient funds.