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FASTCOLLECTŠ - services |
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1. Check Authorization
(Verification)
2. Check Recovery
3. Consumer Bank Account
Monitoring
FastCollect is a complete check
management system that uses the latest in electronic commerce technology to recover bad
(NSF) checks.
Electronic Check Re-presentment is a newly approved method of collecting NSF checks
through the Automated Clearing House Network. More info from
NACHA Website...
FastCollect provides the merchant
with a complete system for accepting checks. We offer the following services:
1.
CHECK AUTHORIZATION
(Optional) Checks are authorized at
point-of-sale against a national database of bad check writers. When you join the FastCollect
network, you have access to one of the largest database of known bad check writers –
over 8 million unique records. So you can eliminate the known offenders and cut your bad
check losses dramatically.
2. ELECTRONIC CHECK RECOVERY Returned checks that are marked
non-sufficient funds (NSF) are automatically forwarded to one of FastCollect's
local processors. From there the check is entered into our database and electronically
re-present the check plus a processing fee to the check writer’s account on that
date. If the check clears on the first re-presentment, your (merchant) account will be
credited for 100% of the principal of the check.
3. CONSUMER BANK ACCOUNT MONITORING If a check bounces on its
first re-presentment, we will automatically enter that customer in our national database
of bad check writers. This will ensure that you do not accept a check from the same
customer again. FASTCOLLECT will monitor the customer’s bank account for 30
days until funds are available to cover the face amount of the check plus a collection fee
as allowed by law in the particular state.
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FASTCOLLECTŠ vs. Check Guarantee |
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Compare Fast Collect Against Check Guarantee or Check Insurance Programs. See how we beat the competition hands down. Click Here For More Details
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FASTCOLLECTŠ
vs. Traditional Collection |
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Compare Fast Collect Against the Traditional Collections Methods and see why our Method is better. Click Here
For More Details
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