The Opportunity of a Lifetime

All the electronic check collection opportunities that we have seen work pretty much the same way.    You do the sales, somebody else does the processing, and the collected fees are divided between the respective parties. 

For a large segment of the people, this sales/processor arrangement will work very well.  But if you are looking for the opportunity to move beyond the limitations of a sales agent, then you need to cut the middleman out, and that's what Check Assist can offer you that the others can't.   

At Check Assist, we create, sell and support the best electronic check collection software available in America today.   Our electronic check collection software makes short work of processing electronic checks through the ACH.  The merchant gets his money and you get to keep the NSF Fee. (Usually around $25.00 per check)  You do the math, collect 10 checks a day, make $250.00, collect 20, and make $500.00, etc.

When you use our software you will be building your own business.   The accounts that you sell will now be your accounts, and the business you build will be your business, not somebody else's.  And as the owner of your business,  you keep all the money, not just a percentage of it. 

The opportunity before you is an exciting one. Never before has someone had the possibility of making residual income year after year, in an industry that charges nothing for its services.  

Check Assist was founded early in 1990 as a check recovery agency.  Our on-site software development team took up the task of developing software that would address our customers individual needs and automate the day-to-day processes associated with the check recovery industry.  The result was s finely tuned software program that subsequently became the engine that makes this opportunity possible.

In 1997, a small group of companies were given the go ahead to test a pilot program put out by NACHA. (National Automated Clearing House Association)  The pilot was initiated to test the feasibility of electronically debiting a consumers checking account for the face value of his or her NSF check. Critics of the program felt that consumers would protest the electronic debiting of their checking accounts, and that the complaints would be overwhelming.  The pilot ran for one year and produced some interesting results. 

The expected complaints were few and far between.  Surprisingly enough, the majority of checkwriters liked the process far more than having to take care of their checks in person.  The pilot became a process called RCK and on September 19th 1999, merchants and processors were able to utilize the ACH to recover their NSF checks. 

Aware of the changes that RCK was about to make in the industry, we integrated the RCK process into our collection software.  The result was exceptionally strong software that sets the standards by which RCK software is now measured. 

We are excited to be able to offer you the opportunity to join the growing number of RCK professionals that are capitalizing on this exciting new method of check recovery.  We feel that when you compare our investment fee against that of any other high-income business opportunity, that you will quickly see that our program is not only the easiest and best valued opportunity, but it also possesses the highest income potential of any comparably priced opportunity.

So, how much money can you make 

electronically processing checks?

As you know, there is seldom a free ride, and the amount of money that you can expect to make will be directly related to the amount of effort that you put into your new business.  It is possible though, to project your income based upon facts that we already know.  For instance, the typical convenience store gets between 6 and 12 NSF returned checks every month.  If you sign up 10 stores that are getting 9 NSF returns each month, and you recover 75% of these checks, you will earn $20,250.00 per year.  Sign up 20 stores equivalent in nature and you will make $40,250.00.  One of our users currently has almost 2,000 stores that they process for, and just one of the accounts brings in $25,000.00 per month by itself. This user is obviously making a very nice living from collecting checks.

As in any business, there will be those who purchase the opportunity and never do anything with it, and yes, we have a few of them.  But the entrepreneurs that have applied themselves are usually processing between 700 to 1,500 checks per month after the first year.  Also, as is the case with any business opportunity, we have our share of major success stories too.  One of our best achievers started in November of 2000 and within 7 months, was processing over 900 transactions per day. 

What kind of competition is already in the marketplace?

This industry is just starting to take off.  In the earlier years, very few merchants knew what RCK was and educating them on the benefits could take some time.  Today, most merchants not only know what RCK is, they are seeking it out.    Should you encounter competition in a specific area, it should be easily overcome by offering the merchant some of our value added services.      

• Free electronic check verification

Your competition will be charging for check verification, if he even offers it at all.  As Check Assist maintains its own check verification center, we can offer you verification prices that are so inexpensive that you can afford to give it away to your clients.  We have landed many accounts over the years by providing them with free check verification.

• Free secondary check collections

Your competition will more than likely be charging the merchant between 15% and 35% to collect checks that fail the electronic check re-presentment process and have to be forwarded on to a secondary collection agency.  As we have been developing check collection software since 1990, we have a wonderful group of full blown check collection agencies that will be happy to collect your client’s checks without charging a percentage of the face value of the check.   

• 24-7 On Line Reporting

On line reporting will give your clients the ability to view their returns 24 hours a day, 7 days a week.

Here’s an explanation of how the process works.

• The merchant signs a bank release form, notifying their bank to mail all returned checks to your P.O. Box after the first presentation.
• A sign is posted at the point of sale to notify customers that should their check be returned, their bank accounts will be electronically debited for the amount of the NSF check, and that a State authorized processing fee will be assessed.
• When a check bounces, it will be mailed directly to you by the merchants bank.
• Because the checks are being sent directly from the bank to you, the merchant will not know that a check has been returned unless you tell him.  This is handled automatically by the software, which creates a detailed notification report which can be mailed, delivered via an email attachment, faxed or posted to the web.
• When you receive an NSF check, you enter it into your software and schedule it for the electronic re-presentment.  You may select any date that you wish but targeting "smart" dates is recommended.  Smart dates are Fridays or the 1st and 15th of the month.  The software automatically calculates the proper NSF charge for the store that the check was written to.
• On the chosen date, you press the transfer button on your software and the checks are sent via the Internet to our processing department.  Here the checks are converted into electronic debits and are processed through the ACH to be debited from the checkwriters bank account.
• Once the money has been debited from the checkwriters account, it is electronically transferred into your business account.  The software determines how much of the collected money belongs to you and how much belongs to your client.  A detailed recovery report is created and sent to the client via email, while at the same time your client's money is electronically transferred into their account.
• Not all items will clear on the first electronic attempt, and these checks will need to be rescheduled for a second attempt.  (Checks may be re-presented a total of two times electronically)
• The software will gather all the checks that need to be re-presented a 2nd time and will create a computerized list that will allow you to call the bank to verify the availability of funds.  Our software will provide you with the phone number of the bank should you wish to call and verify funds or you can use the software's CAPS Plus module to monitor the checkwriters account status.   When you determine that money is available, you release the check and it is sent back through the ACH to be debited from the checkwriters account.
• Checks that are not recovered electronically, such as closed account, etc., can be forwarded on to one of our full service check collection affiliates where traditional check collection methods are applied.

The software that you will receive is a complete check management system.  You don’t have to concern yourself with whether the check qualifies for re-presentment or not, as the software already knows the rules that govern electronic check collection.  If a check doesn’t qualify to be electronically collected, the software won’t send it through the ACH.  Checks that can be electronically collected are:

• Checks under $2,500.00
• Personal checks.
• Checks that are less than 180 days old.
• Checks that are returned NSF or an equivalent thereof.

The software has been designed to conduct a series of procedures and reports that when performed daily or weekly, will aid you in the organizational procedures of your day-to-day collection activity.  Remember, this software was developed by collection professionals to facilitate the business of processing and managing check recovery.  

So, what does it cost and 

what can you expect to receive?

Your Investment is just $5,495.00.  You will receive:  

• Merchant sign up forms, bank release forms, etc.  These forms come on CD and can be easily modified to fit the needs of your new business.
• Our Check Chase Plus collection software with 5-user upgrade, ACH processing module, 3rd party collection export module, and automatic client reimbursement option.  This software is undeniably the very best RCK software available on the market today.   
• Check Chase Plus also has the ability to send out a series of follow-up letters to aid in the collection, should the RCK process fail. This does not mean that you have to use this function, but considering the amount of money that can be made in secondary collections, it is certainly nice to know that you will have the ability to take advantage of it if you like.  (Individual states have different licensing requirements for check collection.  Before you engage in the check collection or check representment industry, you should check on the requirements for your state. 
• Sales tracking software to track commissions for your sales people.
• Unequaled support on our software and the industry in general.
• NACHA rules book to keep you informed on the rules governing your new business.
• MagTek check imager to accelerate check entry and capture check images.  NACHA rules require that you keep an image of the check for 7 years.
• Marketing materials
• Ability to provide on line reporting options for your merchants
• Office setup, daily schedule, errors to avoid, etc.

• Electronic check verification  (CAPS - Check Acceptance Protection Service)

Electronic check verification is the process of using a check reader to capture the MICR information located on the bottom of a check.  This information is sent to a database containing negative information on checkwriters with unpaid checks.   You receive a generous buy rate and you may mark it up as desired.  You can also resell our CAPS Plus verification service, which provides virtually real time access to more than 210 million checking accounts.   

• Point of sale check conversion

Point of sale conversion is the conversion of  a paper check into an electronic transaction.  An image of the check is captured at the point of sale and stored at our processing center.  When an electronic check is returned, we forward the image back to you to be imported by your Check Chase software.  With the image and checkwriter information, you can now electronically re-present the electronic check and collect the NSF collection fee.  This will be a win-win situation as you will be making money selling point of sale conversion as well as making money collecting an NSF fee on the ones that bounce.  

• Check collection software 

While you are marketing your new service, you will find that there are 2 types of people that you will encounter.  Those that see NSF checks as a liability and see trying to collect them themselves as throwing good money after bad.  These people will probably be an easy sell for your new business.  Then there are those that see NSF checks the same way that you do, as a profit center. If you bump into the latter, you can pretty much forget getting the account.  Instead of walking away without a sale, you can tell them about our check collection software.  Usually these companies are using an outdated and labor-intensive system to do their check collection. Check Assist has 4 different versions of check collection software, ranging from $2,495.00 to $10,495.00.  Our Check Chase Plus at $2,895.00 is usually an easy sale in a situation like this, and now, instead of walking with nothing, you will receive a 35% commission on the software sale.      

• Private label license

As a Check Chase user, you have the option of purchasing a private label license for reselling our software.  When you purchase a private label license, the Check Chase software is modified to project a brand name that indicates the software as being your development.  All logos and labels all present a name chosen by your company.  Each copy that you sell is purchased from us at a 35% discount rate from our advertised price.  What you then resell it for is up to you.  Additionally, all electronic transactions that are processed with the software will be billed to you at  .10 per transaction rate and you are free to up sell these transactions as desired.  Most private label licensee’s up sell transaction fees to around $1.00 per transaction.  Private label sales not only make you immediate profit from the upfront sale of the software, but also provide you with ongoing residual income from all the transactions that processed.   

• Consolidated or Centralized Returns    

What are Consolidated Returns?  Consolidated Returns is the redirection of a returned check from your clients bank, referred to as the "Bank of 1st Deposit",  to a bank that charges a substantially reduced return item fee.  These returned item fees, usually between $5.00 to $15.00,  can be reduced by 60 to 80 percent.  

Some benefits of consolidated returns:

This service will save your clients money immediately, therefore increasing client retention.. There is nothing for them to do differently and they won't have to change anything at their bank.  They simply stamp the back of each check with an endorsement that tells the Fed to send the returned check to us instead of back to their bank.

You will make money offering consolidated returns.   You have a buy rate from us which you are fee to mark up as desired.  Even if you provide it at cost, you will effectively lower the rebate that you are giving them.  It only makes sense, the lower the returned item fee, the less you have to give back to offset it.  Consolidated returns is a win-win situation for both you and your client alike.

In Conclusion

No other company in this industry can offer you the ability to make the kind of money that this opportunity can.  We work closely with our entrepreneurial students and help them in every way we can.  Our success depends on your success and we realize it.  Look at the competition and you will find that our start-up fee is virtually nothing compared to what you will receive and more importantly, what you will make by owning your own electronic check recovery company.

Keep in mind that the business you are building will have resell value.  If you are selling for somebody else, you are building equity for their business, not yours.

1. With Check Assist, you will be building your own business, not somebody else’s.

2. The other companies offer you commissions, we offer you ownership.

3. With other companies, you can earn between $5.00 to $10.00 per collected check.  With Check Assist, you will earn $25.00 - $30.00 per collected check.

We hope that we have made you aware of just how lucrative electronic check recovery can be.  There is no need for you to spend $30,000.00 to $100,000.00 on a franchise that will require that you work 60 hours a week for a $45,000.00 a year return.  Take advantage of this tremendous opportunity now, and secure your place in this rapidly expanding industry.

Call Laurie at Check Assist for more information on how you can make a career in check processing (888) 436-5101 Ext 21