| RCK is the changing of a paper NSF
check into an electronic check and processing it
through the Automated
Clearing House (ACH) to collect on the check
– both face and fee can be collected with proper
authorization. There are many advantages to RCK
including the fact that there are no bank NSF fees,
collection rate of 40-50% and higher. Click to see
All
The Benefits.
|
PC or WEB BASED SYSTEM:
Clients use our PC or Web Based software to upload files to
our processing center. Check data is entered using a check
reader or imager. Text
files can also be used to upload the check data.
Once the files are uploaded to us we process them through the
ACH. All
collected and cleared funds are transferred into the
user’s account.
|
DETAILED
REPORTING:
| Complete and detailed reporting is provided for every file
uploaded. The
results detail file is provided on the same day that the
funds are transferred. Bank
reconciliation is easy with our system.
|
CHECK RECOVERY COMPANIES:
| the largest users of our systems are check collection
agencies and check recovery companies.
Check recovery companies also use our web based check
representment application which enables them to process all
checks online and provide complete reporting to their
merchants online. In
addition, we deposit the check face amount into the merchant
account and the check fee amount into the check recovery
company account. |
DETAILED REPORTING:
| Detailed reporting is available on all items online
including sales agent reports, merchant reports, payments
reports, etc. |
|
