Centralized Returns routes ALL of your return check items to our central returns bank.  Our bank turns the return items into a scanned viewable check and a data file that will be made available to you on our website.

The merchant’s bank is cut out of the picture and therefore does not charge a return fee to the merchant – big savings!  The centralized bank is reimbursed for the check but there is no NSF charge – just the low centralized check return cost.

The EFT Network will electronically debit the merchant for the amount of the returned check to make the banking system whole. You can retrieve the data file of the returned items on our website and represent the items on the website or through your software upload.

 ADVANTAGES OF CENTRALIZED RETURNS:

Returns are received in 2-4 days – much faster than waiting for them to go back to your merchant’s bank which usually takes 7-14 days. Merchants will not be charged an NSF fee from their bank for the returned item. Check verification systems can be updated much faster. Returned items can immediately represent the item online at our secure website or you can download a data file to import into our software to represent the items. An image of the check can be downloaded to save per NACHA requirements. No expensive imaging equipment to buy to convert paper checks to an image.