FREQUENTLY ASKED QUESTIONS - CONT

FAQ:  Questions and Answers Continued....

13.  Is the merchant allowed to charge the check writer a fee for RCK processing?

A written authorization is required from the check writer prior to the initiation of a collection fee. A collection fee may not be added to the amount of the RCK entry, it should be submitted as separate transaction.

14.  After a check is determined to be NSF, who retains the paper check when the RCK is initiated?

The paper check is retained by the Originator, the processor or the ODFI.  Copies may be requested from the merchant or processor via written request.

15.  How do I, as a merchant, sign up for RCK?

You can contact Jeff Ross's Private Line M-F 9:00-6:00 (CST) at :
(877) 501-ECOM  or  (972) 858-8413 or send an e-mail to info@checkprocessing.com

Consumer Questions:

16.  Will I, the consumer, have to pay a fee to my bank for the first and/or second re-presentment?

Normal NSF checks fees are usually charged by financial institutions.   Merchants are allowed to collect a service charge as allowed by state law.

17.  Will I receive my paper check in my monthly bank statement?

No. The check is retained by the company collecting the check electronically or returned to the merchant. Your monthly bank statement will include payee name, "Redeposit Check" in the description and the check amount.

18.  What if I was not notified of the RCK process?

You may sign an affidavit with your financial institution that you did not receive notice,  Your account will be credited and an investigation will take place.

19.  Who can electronically debit my account for an NSF check?

Merchants and financial institutions have the option of debiting your account electronically for checks that have been returned. However, they must notify you prior to receiving your check.

20.  Can I decide how the NSF check is re-presented?

No. The merchant or financial institution can represent the paper check or represent it electronically.