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Customers receive 100% of the check's face ammount 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. CheckTrack’s benefits include:
• No additional cost to you or your customers
• Recover more funds faster
• Improve your customer’s cashflow
• Refund of returned deposited item fee from collected service fees
• Eliminate in-house collection efforts
• No equipment or software needed
And best of all, there’s no uncomfortable phone calls or long delays recovering funds.
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Improve your customer's cashflow and add a new fee income opportunity
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 customer’s DDA account through another ACH transaction.
There’s no additional software or hardware needed and no faster way to recover their funds and improve
their cashflow. Plus, we’ll include a fee income for your financial institution.
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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 customer’s business and costs them money. Plus, they run the risk of discouraging repeat business from customers who have simply made a banking error.
With CheckTrack, there’s no longer a need for uncomfortable phone calls or demand letters to process and track. CheckTrack lets your customer’s confidently accept checks from their 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 financial institution and your customers. |
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