Consolidated Returns

Consolidated Returns re-routes return items, NSF and otherwise, to a Electronic Recovery processing center, rather than back to the bank of first deposit.  But why would you want to do this?  First and foremost, it saves most companies money on the returned item fees that their bank charges them when a check is returned.  

The process is easy to implement and has many benefits:  

 

Reduced Bank Fees. You will save 50% - 60% on return-item fees.

As the process is electronic in nature, it is not uncommon to save between three to seven days of check processing time.  

Same-day email reporting.

Reduced Fraud Loss. Get faster access to return information, which helps prevent you from accepting more bad checks from the same checkwriter. 

Greater Efficiency. Enhance your productivity by having to reconcile only one account.

Anytime Access.  View return-item images, front and back, using Electronic Recovery's online management tools. Item images are available in real time and remain online for 90 days. 

Data Capture.  Electronic Recovery also offers extensive data capture capabilities. We can capture whatever data our clients need and transmit it to them on a daily basis.

Update your Accounts Receivable.   Our web reporting supports several formats that you can use to update your accounts receivable or check collection package automatically.  

What's Next?

Now that you have saved money on the returned item fee, what's next?  Using our Electronic Recovery Module, you can now have these NSF items electronically colleted using the ACH Network.