eCashflow Systems
Recover Returned/NSF Checks
Recover NSF checks electronically at no cost. Eligible ATD ServiceBAY clients receive
100% face value of all checks after they are collected.
Issues
- Checks are still a popular form of payment
- 2% of all checks are returned NSF
- Increased NSF fees are a burden on business
- High traditional collection costs– 20-30% of recovered item
- Long collection cycles reduce cash flow
- Collection letters and calls embarrass good clients
Solution
- eCashflow Systems (eCS) offers a free, non-intrusive, electronic check recovery method for ATD ServiceBAY members that reduces costs and increases revenues
- Members always receive 100% of all collected checks
- No sign up fees, statement fees or monthly minimums
- No transaction costs and % face value charges as with check guarantee programs
- No equipment, training, or software costs
- Non-intrusive systems helps client maintain customer retention -- no embarrassing phone calls or letters for customers to deal with
- By law, oversized corporate checks with 3 data lines can not be collected electronically
How does eCashflow do it?
- Members Deposit checks as they normally do
- Members Bank sends NSF checks directly to eCS
- eCS converts the check to an electronic debit and re-deposits the check
- If the check is returned a second time eCS monitors the NSF check writer’s bank account on a daily basis for sufficient funds
- When the funds are available, eCS immediately sends an Electronic Funds Transfer (EFT) to recover your funds and the state
mandated NSF check fee from the check writer’s account
- eCs pays members only after check has been collected
- eCashflow offers online real-time reporting of all NSF checks, amounts, check images, status of check, etc
Requirements for Members
- Place notification supplied by eCS on customer statements or at POS for retail outlet
State Allowed Fees
Collection fees allowed by States for returned checks.
Alaska
Alabama
Arkansas
Arizona
California
Colorado
Connecticut
Washington DC
Delaware
Florida
Georgia
Hawaii
Iowa
Idaho
Illinois
Indiana
Kansas
Kentucky
Louisiana
Massachusetts
Maryland
Maine
Michigan
Minnesota
Missouri
Mississippi
Montana
|
$25.00
$30.00
$25.00
$25.00
$25.00
$20.00
$20.00
$25.00
$30.00
$25.00
$30.00
$20.00
$30.00
$20.00
$25.00
$20.00
$30.00
$25.00
$25.00
$25.00
$35.00
$25.00
$25.00
$30.00
$25.00
$40.00
$30.00
|
North Carolina
North Dakota
Nebraska
New Hampshire
New Jersey
New Mexico
Nevada
New York
Ohio
Oklahoma
Oregon
Pennsylvania
Rhode Island
South Carolina
South Dakota
Tennessee
Texas
Utah
Virginia
Vermont
Washington
Wisconsin
West Virginia
Wyoming |
$25.00
$25.00
$35.00
$25.00
$30.00
$30.00
$25.00
$20.00
$30.00
$25.00
$25.00
$30.00
$25.00
$30.00
$30.00
$20.00
$30.00
$20.00
$35.00
$25.00
$30.00
$25.00
$25.00
$30.00 |
Find out more at:
866-388-7006 or
WWW.TIRECHECKRECOVERY.COM
eCashflow Enrollment Forms