Benefits of using NSF Pursuit
Our NSF collection process is much faster and more convenient than any other method available on the market today, and it will work for any bank in the United States and its territories. Recovering out of state checks has never been easier.
Using NSF Pursuit's NSF Check Recovery system is a Win-Win Situation for you and your customers
You won't have to make any more embarrassing Phone Calls or send any Nasty Letters. Plus electronic bank transactions are processed faster than regular checks and it saves on bank fees. Your customers won't have to resubmit a money order or cashier's check, receive those uncomfortable phone calls or nasty letters. Hopefully, you will save a valuable customer by saving them embarrassment of having an NSF check.
More Benefits of Using NSF Pursuit:
- Lower Collection Costs - Most banks charge $3-$12 to redeposit a NSF check the first time and $4-$12 to redeposit a NSF check that returns a second time. Electronic Check Representment service is offered to you, the merchant, at no cost.
- Dramatic Improvement in Collection Rate - The National Automated Clearing House Association (NACHA) reports increases in collection rates by as much as 50%-85% as compared to the most common collection methods used today. And typically, the recovery rates are much higher the sooner the NSF check is represented electronically.
- Faster Deposit into the Merchant's Bank Account - Most collection methods take 30 to 60 days to recover NSF items, and it is common for these methods to extend beyond 120 days. Electronic check Representment reduces the payment time to seven business days. The seven day period allows time for the check to be completely processed. The funds that are recovered electronically are then deposited directly into your account.
- NSF Check Representment Timing - NSF Pursuit can time the representment of the check to hit the bank on payday, whether it be the last day of the month, every Friday, or whenever the person receives their wages. This approach substantially increases the chance of collection. Other methods do not provide the ability to time the collection.
- Funds Availability: If the money is not available at the first check representment, we will monitor their check bank account and continue to pursue the money until it becomes available.