Did you know that on average, 1-3% of customer checks are returned? Traditional collection methods recover only 40% of returned checks. With iCheckGateway.com’s electronic Check Re-Presentment feature, the collection rate is increased to 85%.
When this feature is turned on and a check is returned, iCheckGateway.com will automatically re-present it up to two more times in an attempt to collect 100% of the check. Collected funds are deposited into your account, a notification is sent to you via email, and the check writer is charged a state-regulated NSF (insufficient funds) fee.
The process of electronic Check Re-presentment is federally approved and is also
endorsed by NACHA (National Automated Clearing House Association), the
electronic payments association.
This beneficial service is offered to our merchants for free. Spend more time
growing your business as we automate many of your Accounts Receivable processes