The traditional flow of an NSF check in the
retail setting is:
Local Storefront->Local (regional)
Bank)->Federal Reserve->Local Bank->Local Storefront.
At this point the local store tries to collect
or turns the check over to headquarters or a collection agency.
Unfortunately the business has now paid an NSF fee ($20+ in some
states) and must devote time and money to still be paid.
With Consolidated Returns the flow of the NSF
item is the same until it reaches the Federal Reserve Bank. All
of your companies NSF items are separated and returned to our
processing center where they are re-presented (twice if
necessary) electronically. Because the NSF was never returned to
your bank you avoid bank NSF charges completely.
This can result in substantial savings both in money and time.
In addition we do not debit the NSF item from your funds until
collection efforts have been exhausted. This results in a float
advantage to your business.
This new service is a must for any company
experiencing high volume NSF items or having multiple store
us now for more information and an added bonus.