RCK is the re-presentment of bounced checks (NSF) by conversion of the paper item to an ACH/EFT (Electronic Funds Transfer) item. RCK places the merchant behind the scene, avoiding embarrassing situations for your customers. After a paper item is returned NSF, it is submitted electronically (two additional attempts). When the item clears, you receive 100% face value of the item.

Service Bureau RCK is for companies that wish to have bounced checks (NSF) collected by a third party, thereby eliminating any involvement, labor or other necessary procedures from internal collection methods.

Typically, this is how it works:

1. Merchant's NSF's are forwarded to our processing center directly form the merchants bank.
2. We enter the transaction information into a database, and convert the paper item to an ACH/EFT item.
3. Transaction is re-submitted through the ACH network for collection.
4. If the funds are collected in this re-presentment, we then transfer funds to the merchant's account by means of an ACH/EFT credit.

If the second presentment fails, the transaction/data is placed into a call center which periodically contacts the banks to verify there are funds available for each and every transaction. When verification is positive, an EFT for the pending transaction is initiated, funds are captured and credited to the merchants account. This verification of funds contributes to increased recovery success in the final presentment.

What does it cost?

Nothing. In fact, it pays! For many companies RCK can be an additional source of revenue that can significantly enhance the company's bottom line. Not only is RCK a great method of recovering the face value of bounced checks, but because the company has the option to have us collect a NSF fee on their behalf, the revenues to the company from these fees can be significant.

Reporting:

Reporting can be facsimile based, e-mail, or via Internet FTP. Reports can be sent to corporate offices, individual stores or any combination of the two.

Copyright© 2001-2002 Cash Flow Specialists, Inc., all rights reserved.