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Receive 100% of the check’s face amount at no additional cost
With CheckTrack from Creative Payment Solutions, any merchant can have eligible consumer returned
items electronically processed at no additional cost and receive 100% of the check’s face amount.
According to the Federal Reserve Board, checks are still the favorite non-cash payment method for U.S. consumers with a monthly average of 19 per household. Close to 1% of all those checks will be returned for insufficient funds with an average estimated value of $700 per check. Now factor in returned item fees and
the time it takes your business to track down those returns, and you can easily see the value a service that collects the money that’s owed you. And best of all, there’s no uncomfortable phone calls or long delays
recovering funds.
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Recover more funds and improve your cashflow
CheckTrack converts eligible deposited items that are returned for insufficient (NSF) or uncollected (UCF) funds into an electronic transaction and re-presents it through the Automated Clearing House (ACH)
network. The check writer’s account is debited for the face amount of the check plus the returned check fee. We’ll even make two collection attempts if necessary. Once funds are collected, the full face amount is then electronically credited to your checking account through another ACH transaction. There’s no additional
software or hardware needed and no faster way to recover your funds and improve your cashflow.
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Focus on your business without the expense of in-house NSF collection
Trying to collect on returned items the traditional way takes time away from your business and costs you money.
Plus, you run the risk of discouraging repeat business from customers who have simply made a banking error.
With CheckTrack, your business will:
• Improve check recovery rates without uncomfortable phone calls
• Receive 100% of face amount for each collected item at no additional cost
• Recover more funds and improve your cashflow
• Eliminate in-house collection efforts
• No equipment or software needed
• Receive an automatic daily deposit of collected items
• View images of returned items on demand
CheckTrack lets you confidently accept checks from your customers while saving time and money.
For more information, contact our support services team and learn how the CheckTrack NSF Check Recovery System will benefit your business.
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CheckTrack Merchants
CheckTrack merchant download page
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