Even so, 90 percent of all
returned checks are collected by businesses themselves within 10 days.
A recent survey of
returned checks processed by the Federal Reserve indicates that institutions receive most checks that are returned unpaid by the day on which they must make funds available for withdrawal under the temporary availability schedule.
SECU even has a new answer for members who are paying too many NSF and
returned check charge fees, offering the new SECU Cash Points Global (CPG) account as an alternative checking service.
The company provides the complete range of processing services, including electronic
returned check collection (RCK), electronic check conversion (ARC), check authorization, check guarantee, check-by-phone/web, consolidated returns and credit card processing.
The median charge by merchants for a
returned check was $25.
Services include ACH payment processing, check verification,
Returned Check Processing, automated recurring payments, collection of donations and payments, and conversion of paper checks into electronic transactions-all performed safely and securely.
Internet-based service offers Transworld clients advanced process automation for the recovery and collection of all
returned checksServices offered include depository processing, accounts receivable truncation, controlled disbursement services, and
returned check management and conversion services.
SPS is a full service payments provider specializing in ACH processing,
Returned Check processing, and check conversion.
Check Plus Systems provides innovative check processing services with products such as EZ Deposit (a Check 21 based electronic remote depository service), electronic re-presentment, check guarantee, check verification, and
returned check collection services.
has signed an agreement with NACS, the association for convenience and petroleum retailing, to provide
returned check collection (RCK) services to the retail trade association's members.
By converting a check into an ACH debit, a customer will no longer see the
returned check in the monthly statement.
