Check Collection
Bad checks can be a big problem for businesses. Midwest BankCentre’s Re$ubmitIt electronic check collection service helps protect businesses by collecting funds from bounced checks.
Re$ubmitIt
Protection from Bad Checks
Accepting checks from your customers is necessary, but it can be risky, too. Many customers write checks to pay for goods and services but, unfortunately, 1–3% of checks will bounce. What’s more, businesses using traditional collection methods recover only about 40% of funds from checks that have been returned due to non-sufficient funds (NSF).
That’s why the Re$ubmitIt electronic check recovery service is so valuable to you. This FREE service utilizes proven RCK (electronic re-presentment) technology to help you collect more money from NSF checks, while you spend less time and resources on the collection process. With Re$ubmitIt, bad check collection is no longer such a burden.
Re$ubmitIt can help your business.
Benefits of using Re$ubmitIt include:
- Significantly improve collection of NSF checks
- Collect 70-75% of bad checks
- 24/7 web access to track status of each check in the recovery process plus access to a variety of reports
Re$ubmitIt is easy to use, can improve your collection of NSF checks, and best of all it’s a FREE service to you!
FAQs
Our Re$ubmitIt FAQs cover essential topics such as how the check collection service works and how it helps businesses. If you have additional questions, our business banking specialists are here to help.
Who can use this service?
Any business that accepts checks can use this service, regardless of the number of bad checks it receives.
How does RCK work?
You can inform customers about our electronic check recovery policy by posting a notice at the point of sale or including it on invoices, work orders, or similar documents.
What Is RCK?
RCK is the process of converting a returned paper check into an electronic item and re-submitting it to the check writer’s bank account through ACH. This proven methodology allows checks to be presented twice electronically after they have already been presented once in paper form, thereby increasing collection opportunities.
Does RCK provide cost savings for businesses?
Yes. You spend less time and resources on traditional collection methods such as phone calls and letters.
Want to start using Re$ubmitIt?
Please share a few details and a business banker will be happy to assist you.
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