Free Bounced Check Collection Service

Electric Checks can collect your NSF or bounced checks in all states at no cost to you. Fax your NSF checks to Electric Checks at 702-543-4843 to try out this new service.

Bounced checks can significantly reduce the profit of a small business. Yet, a business that does not accept checks can't expect to stay competitive. A new banking rule allows Electric Checks to collect bounced checks by debiting the bad check writer's account for the full amount of the check plus a service fee allowable by state law. The service is designed to easily collect NSF checks from out-of-state check writers or from check writers who ignore your request for repayment of an NSF check.

To use this service, the merchant must post a sign (at point-of-sale, on receipt, invoice or web site) and obtain permission from the check writer. Signs are available from Electric Checks upon request.

Here's How Electric Checks Check Representment Service Works:

1. Your customer purchases auto parts for $399 by check.

2. You, the merchant, display at the point-of-sale a sign stating that you will collect a nonsufficient funds (NSF) check by electronic debit of the customer's account. The customer approves the process.

3. The customer's check is returned for insufficient funds.

4. You, the merchant, may fax the check to Electric Checks @702-543-4843
(click here to get the form to fax a current check to Electric Checks) or you may authorize the bank to return your NSF checks to Electric Checks (click here to get the sign up forms for future NSF checks).

5. Electric Checks sends your NSF check through the banking system as an electronic item to the customer's account.

6. If after a 7 days clearing period, funds are available to cover the check, the funds are electronically transferred into your account (if you send a voided business check to Electric Checks) or you are paid by check.

7. A service fee, allowable by law is also debited from the check writers account.

8. If funds are not available to cover the check, the process can begin again until it has occurred three times. To increase the chance of payment, Electric Checks will call the bank to verify funds prior to the third representment.

9. IMPORTANT NOTE: Electric Check can represent a DO NOT REDEPOSIT check one more time. The account number must be available (sometimes the bank punches holes in the account number to prevent redeposit).

These Restrictions Apply:

1. The check must be less than 180 days old.

2. The check must be less than $2500.

3. No closed account or stop payments will be accepted.

4. No third party check will be accepted.

5. The original check or front of the check must be faxed to Electric Checks. For security reasons no account numbers will be accepted by telephone.

ACT NOW – Fax your NSF Checks to Electric Checks at 702-543-4843.
(Include name/address/telephone/fax/email information)

 

Questions:

Call Electric Checks at 508-643-9134 Email info@electricchecks.com Visit www.electricchecks.com