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NSF Check Services
We have several additional services available, including:
- Check warranty services - Telecheck
- Nonsufficient funds services
You can call us at 1-877-739-3952 to learn more, but below you will find a little bit more informatin about each service.
Click here to see a one-page flier.
Check Warranty Services - Telecheck:
Telecheck is a service where you obtain an authorization when accepting a check, and should that check later be returned due to insufficient funds, closed account, etc., you will receive payment from Telecheck for the check (the check is sent back to Telecheck and they will be responsible for collection). The cost for Telecheck transactions = $volume x 1.05% +.15 per transaction ($300 check costs $3.30). There is a $25 monthly minimum and $5 monthly statement fee.
This service is especially popular with merchants that deal with one-time purchase customers (ex. endodontists, oral surgeons, etc.), and don't have a recurring customer base.
While you can generally use existing terminal equipment (you would have to key in driver’s license, etc.), equipment can be purchased (FD200) which will process check, stamp void, and auto deposit the day's activity.
Telecheck is a service where you obtain an authorization when accepting a check, and should that check later be returned due to insufficient funds, closed account, etc., you will receive payment from Telecheck for the check (the check is sent back to Telecheck and they will be responsible for collection). The cost for Telecheck transactions = $volume x 1.05% +.15 per transaction ($300 check costs $3.30). There is a $25 monthly minimum and $5 monthly statement fee.
This service is especially popular with merchants that deal with one-time purchase customers (ex. endodontists, oral surgeons, etc.), and don't have a recurring customer base.
While you can generally use existing terminal equipment (you would have to key in driver’s license, etc.), equipment can be purchased (FD200) which will process check, stamp void, and auto deposit the day's activity.
Nonsufficient funds services - eCashflow:
eCashflow is not Check Warranty, but a free service for collection of checks received back for non-sufficient funds. eCashflow has about an 87% collection success rate and once paid, you receive 100% of face amount on check. The check is turned into an ACH which allows two presentments (one more than with a paper check).
The customer is charged a fee typically ranging from $20 to $40 (the amount allowed by state law). If not collected within 30 days, the check can be turned over to eCashflow for collection or you can get the check back and complete your own collection. You are required to post a notice of their services.
eCashflow is not Check Warranty, but a free service for collection of checks received back for non-sufficient funds. eCashflow has about an 87% collection success rate and once paid, you receive 100% of face amount on check. The check is turned into an ACH which allows two presentments (one more than with a paper check).
The customer is charged a fee typically ranging from $20 to $40 (the amount allowed by state law). If not collected within 30 days, the check can be turned over to eCashflow for collection or you can get the check back and complete your own collection. You are required to post a notice of their services.
