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FASTCOLLECTŠ VS. Check Guarantee |
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We Beat the
Competition!
A number of companies offer "check guarantee" or check insurance to merchants
to protect them from bounced checks. However, "check guarantee" companies make
money by collecting fees while paying out as few claims as possible.
Guarantee services base their fees to the merchant on number of transactions,
geographic/economic factor, and the type of industry. And like any insurance, "check
guarantee" companies often raise their rates or deny coverage if you file too many
claims.
Checks failing to meet their stringent requirements generally range from 10% to 30% of
all checks submitted by the merchant. They often refuse to pay a claim for a returned
check because a sales clerk failed to make sure the driver’s license, telephone
number, and correct address were on the check.
And it takes several times longer to ensure that a check complies with "check
guarantee" company requirements as compared to only a few seconds with FastCollect’s system.
All of these factors contribute to generally low merchant satisfaction with "check
guarantee" services.
FastCollect’s Electronic Check
Recovery is always FREE to the merchant.
Why spend 2% or more per check on a guarantee service when FastCollect’s system can recover just as much money for you at
ABSOLUTELY
NO COST!
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