The Express Program

Merchants with a higher volume of returned checks can now perform their own Electronic Check Recovery (RCK) in-house using our Express program. The Express program is a perfect complement to a merchant's existing collection efforts, and will actually eliminate most of the telephone communication and correspondence that is normally necessary when attempting to recover bounced checks.

Electronic Check Recovery (RCK) is an efficient and effective tool for check collection. The process is extremely customer-friendly, with less than 2% of debtors nationwide reporting any dissatisfaction. Embarrassing telephone calls and letters are no longer necessary; RCK uses the Federal Reserve's Automated Clearing House to send an electronic debit to the check writer's account. The check writer receives a complete accounting on their bank statement, including the original check number.

For merchants, RCK offers the following advantages:

• One Additional Re-Presentment Available For Electronic Recovery
• Electronic Debits Are Paid Before Paper Items At Most Banks
• Electronic Recovery Can Be Timed To Coincide With Normal Paydays Or With Verification Of Funds Availability
• No Authorization From The Check Writer Is Required To Electronically Re-Present The Face Amount Of The Check

The Express program will also allow the collection of return check fees, with proper authorization. Authorization wording can be stamped on to the check using a self-inking stamp, or appropriate wording can be added to an invoice, receipt, agreement, or contract which is signed by the customer. For many merchants, the collection of a return fee can turn losses into gains.

The Express program includes everything needed to get started right away; software, a check imager, notification decals, training, software updates and support. We take care of all compliance issues, including the archiving of check images for 7 years.

Merchants can choose to receive reporting by e-mail or fax. In addition, online reporting (including check images) is available 24 hours a day via our Electronic Reporting System. All collected funds are deposited to the merchant's bank account weekly.

The Express Program is inexpensive as well. There is a one-time purchase of software and imaging equipment, then a small monthly fee and per-check fee. There are no minimum transaction fees, and the monthly fees cover all reporting and weekly reimbursements.