PROFESSIONAL COLLECTION OF YOUR RETURNED NSF CHECKS
As a commercial depositor of consumer checks, you can now employ the electronic check transaction services of NPS® NSF Collection services to re-clear NSF checks electronically through the ACH network. Our NSF service saves you time, money, and resources by managing the entire collection process. NPS® Electronic check resubmission offers the highest likelihood of reaching accounts while the funds are available. Current collection rates have been between 75-85 percent within the first week after the check was returned for NSF.
COUNT ON NPS®
First to Claim Available Funds. Our Electronic Check Collection service shortens the collection cycle. It takes just 4 days, versus the 10-11 days usually needed for paper check redeposit!
Electronic transactions get first claim to any cash in an account. Banks generally post electronic items to consumer's accounts before they post paper checks. In addition, Paper checks may only be submitted twice (the original deposit and one redeposit). Electronic clearing allows a third submission, significantly enhancing chances of collection.
One of the most important benefits is timing the electronic redeposit to maximize the likelihood of funds being present. This delivers a collection precision that was previously unavailable. Re-presentment timing can be critical to collection efforts. For example, if re-presentments are timed to hit an account after payday--on the 1st or 15th of the month or on a Friday, collection ratios increase as check writer's accounts typically have higher account balances during these times.Count on NPS to recover on your unpaid returned checks.
BENEFITS OF NPS® NSF CHECK COLLECTION
Lower Processing Costs
Banks
charge businesses NSF return fees of $5 to $20 per returned paper check. There are no return fees for ACH electronic transactions on NSF returns, only minimal electronic transaction processing fees.
INCREASED RECOVERY RATES.
NPS® Electronic Check Collection enhances check recovery rates due to the speed and precision it provides, along with the ability to electronically time redeposits. Maximizing the likelihood of funds being present. Our High collection rates means your bottom line is increased. Monthly reports notify your company on the status of NSF checks received.
WHAT WILL THIS SERVICE COST?
NPS® will handle collection of your NSF checks at no cost to you. Our service bureau will resubmit and collect these checks and return to you 100% of the face value of the returned check…plus 50% of the State allowed NSF Return Check Fee less processing expense fees!
How To Get Started!
Let NPS® effectively handle your NSF returned check collections with our leading edge collection procedures.
