Re$ubmitIt Frequently Asked Questions
Q: Who can use Re$ubmitIt®?
A: Any business that accepts checks can use Re$ubmitIt, regardless of the number of bad checks it receives..
Q: What Is Electronic Check Re-Presentment (RCK)?
A: RCK, or Re-presented Check Entry, is the process of converting a returned paper check into an electronic item and re-submitting it to the check writer’s bank account through the Automated Clearing House (ACH) network. This proven methodology allows checks to be presented twice electronically after they have already been presented once in paper form, thereby increasing the collection opportunities for recovery.
Q: How does RCK work?
A: The process couldn’t be simpler:
- You inform customers of the Re$ubmitIt® electronic check recovery policy by posting notification at the point of sale, or by including notification on invoices, work orders, etc.
- Your bank automatically forwards all returned checks to the Re$ubmitIt processing center, where the NSF items are presented electronically to the check writer’s account, using strategic timing when funds are most likely to be available.
- If the check fails to clear on the first electronic submittal, it will be re-presented again, thereby increasing the opportunities for recovery.
- The check writer’s account is debited twice: once for the full amount of the check and once for a state-regulated fee.
- Re$ubmitIt automatically deposits the amount of the collected check into your bank account weekly.
- You review and check status of the recovery process online, 24/7, by logging on to your bank’s Web site and clicking on the Re$ubmitIt icon.
Q: Why is Re$ubmitIt so successful?
A: The process recovers the money you are owed...faster and easier because:
- Additional Submissions—The conversion of an NSF check to an electronic transaction allows two additional submissions to the check writer’s checking account, thereby increasing the opportunities for collection.
- Electronic Prioritization—Financial institution clearing procedures typically give priority to electronic transactions, which increases collectability.
- Timely Re-submissions—Re$ubmitIt strategically times the submission of electronic items in anticipation of consumer.
Q: Does RCK provide cost savings for a business?
A: Yes. You spend less time and resources on traditional collection methods, like phone calls and letters.
Q: Is RCK legal?
A: Yes. The process is federally authorized and approved by NACHA–The Electronic Payments Association. Additional information on this subject is available at the Federal Reserve Web site.
Q: How many times can a check be presented?
A: A check can be presented to a check writer’s account a total of three times—once by paper draft and twice electronically.
Q: Can Re$ubmitIt recover all my bad checks electronically?
A: No. Some items cannot be presented electronically for recovery, e.g., if the account is marked "closed" or "stopped payment;" if the amount of the check is over $2,500; if the check is from a business; or if it is more than 180 days old.
Q: What happens to checks that cannot be collected electronically?
A: In the event a returned check is not eligible for collection via RCK, or those efforts have been exhausted, Re$ubmitIt will conduct secondary collection efforts (contact by letter or phone). Re$ubmitIt customers are contacted to approve any further collection efforts requiring legal services, such as filing suit to obtain judgment and payment. In such cases, you will receive a percentage of the collected face value, depending on the amount of the check and the steps necessary to collect it.
Q: How do I monitor my check recovery activity?
A: You can go online 24/7 to your bank’s Web site and click on the Re$ubmitIt icon to track all checks in the recovery process. You can also call toll-free (866) 860-5906 (Monday–Friday, 8:30 am–5 pm EST) for assistance from a Re$ubmitIt customer service representative.
Q: How quickly will I receive funds from the collection of my NSF checks?
A: 100% of the face value of any check collected is deposited automatically into your bank account on a weekly basis.
Q: Do I need to notify my customers?
A: Yes. You must notify customers of the Re$ubmitIt electronic check recovery policy by posting the notification in a visible location at the point of sale, or by including notification on invoices, work orders, etc. You may request decals from Re$ubmitIt by calling (866) 860-5906 (Monday–Friday, 8:30 am–5 pm EST).
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