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CHECK RECOVERYWhy pay fees on every check when only 1 in 50 actually bounce? There are "49 Good" reason$.
Simply place our decal on or near your cash register. By posting the CheckElect Decal at your place of business, you tell your customers: We Accept Checks. Your customers will know they can pay by check and are not limited to the cash in their pockets or available credit on their credit cards. Accepting Checks is PROVEN to Increase Revenue, Customer Retention and Higher Average Purchases. Click here to see a Step by Step Process of How CheckElect works! We Eliminate the Headaches Associated With Trying To Collect Bounced Checks! No FeesOur Service Eliminates the Second Bank Return Fee Saving You $4.00 to $20.00 per Bounced Check!
Company ProfileCheckElect was formed to help business owners reap the benefits created through new banking rule established by the Federal Reserve. Theses new banking laws were enacted to benefit you... the merchant... by helping clear the way in establishing a new concept in "bounced" check collection... electronic recovery. We are committed in achieving the highest possible collection ratio for our customers by following tried and true methodologies; including timing the collection for a Friday or 15th/30th of the month (paydays) and by verifying funds availability before our third attempt to collect. Your guarantee that we put forth our best efforts in collecting your money is that, simply put, we don't get paid unless we collect! Utilizing our proprietary software program licenses us to convert up to 65 million paper checks into electronic checks and then collect the owed funds from any bank located in the U.S. We've been elected as the preferred check recovery provider to over 30,000 members of the Itex Retail Trade Exchange, 20,000 members of a large merchant processing company and the thousands of members of a national restaurant procurement organization. We look forward to servicing your check recovery needs as well! Here's How It Worksü Place our Decal At Your Point of Sale Informing Your Customers of our Electronic Recovery Service. ü When one of your customer’s checks bounce, the bank forwards the check to our processing center. ü We convert the paper check into an electronic check and submit it through the ACH network for collection. Upon funds availability, we submit for collection and pay you 100% of the Face Value! Benefits to You!
ü Electronic Checks Return Fees are Waived so you’ll save $3.00 to $15.00, depending on what your bank charges you for return fees, should the check bounce electronically the second time! ü Electronic Checks can be presented Three Times vs. Twice for paper. If check bounces again, we are allowed another attempt! We verify funds availability prior to the third and final attempt. ü Electronic Checks are usually collected within 10-14 days vs. 30 to 90 days for paper checks. We will pay you weekly upon collection! You can now accept out of area checks as easily as local checks... with the peace of mind knowing that CheckElect will eliminate the headaches associated with collecting bounced checks! Compare CheckElect to Other Check ServicesAssumptions: Business Owner Accepts 10 checks per day (300 per
month)
Print Our Forms, Then Fax to 501-325-9756CheckElect
Bank Authorization CheckElect
Merchant Authorization Back of Merchant
Application |
With
our service, you won't pay any fees on the 49 good checks... instead,
the 1 of 50 checks that actually do bounce are automatically forwarded
to our processing center. They are then converted into an electronic
check. Upon funds availability, the amount of the check is electronically
debited from the bounced check writers account. You Get Paid 100%
face value!
ü Electronic
Checks Get Paid First! They have priority over paper checks thus
collection ratio’s are much higher!PowerPay © All rights reserved.
All processing services are provided by PowerPay, a registered ISO and MSP of HSBC Bank USA, Buffalo,
NY
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