With Check Collect, the entire service fee is paid by the client and the firm receives the full value of the check!
Your Current Method of Collection
  • Client sends a payment by check to the firm
  • The firm sends the check to the bank for payment
  • The bank declares the check NSF
  • The bank resubmits the check the following day and declares it NSF
  • The bank sends the check to the firm
  • The collection agent contacts the client and renegotiates payment
  • The client is required to pay by cashiers check or money order
  • The firm waits for payment
  • The firm incurs additional expenses to collect the debt a second time
The Disadvantages
  • By law, banks are only allowed to present a check for payment two times — then they are required to return the NSF check to the firm for collection
  • Banks are in the business of making money. Therefore they submit the check for payment as quickly as possible— collecting two NSF charges in the process
  • Collection agents spend valuable time collecting on debts twice
  • The Client is embarrassed and angry. He has already been charged twice for NSF fees and now has to get a cashiers check or money order
  • Because he is embarrassed and angry he takes out his frustration on the collection agent
  • The agent is angry and doesn't perform as well on his subsequent collection calls

Fast Cash Method
  • The client sends a payment by check to the firm. This can be either paper or electronic payment. They also agree in advance that should the check be declared NSF it may be collected electronically
  • The bank declares the check NSF
  • The bank immediately sends the check to Check Collect without presenting it a second time
  • Check Collect waits 2-3 days and resubmits the check
  • The check is declared NSF a second time
  • Check Collect then establishes a link between their computer system and the client banks computer
  • The full amount of the check is transferred to the firms account
  • The service fee is withdrawn from the clients account
The Advantages!
  • By law, because Check Collect submits checks electronically they are allowed to submit three times for payment
  • Check Collect receives payment only when the check clears. So it's to everyone's advantage to wait 2-3 days for money to be deposited into the account
  • NO ONE personally contacts the client. All transactions are done electronically
  • There is no client embarrassment because there is no embarrassing phone call
  • Agents use their time to set up new accounts rather than chase after payments

Best of all... service fees are paid by the client.


For more information please contact Melanie Mornard
Business Cash Flow • 7686 Irish Avenue Court South, Cottage Grove, MN 55016

Call today! Toll-Free 800 730-6824


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