Check Smart is a proprietary non-sufficient fund (NSF) collection system proven to be the most effective method of reducing your losses to bad checks currently available. We’ll take every possible step to ensure the successfully collection of your checks including verifying funds prior to electronically sending the check back through the banking system as well as utilizing their in-house collectors to call and/or track the necessary collection letters.
Below is how simple and easy this process is for you once you're set up with Check Smart:
You will accept checks just like you normally do, however if they bounce, we can have your Bank send us the returned checks directly to our processing center. Once we receive your bounced checks, they are "imaged" and our software will automatically send you a report (that you can customize) via email, fax, or regular mail indicating the names, addresses, and dollar amounts of your debtors.
If the check was returned for insufficient funds (NSF), we will attempt to verify the necessary funds in their account. Once they become available, we will electronically debit the face amount of the check out of their account. If the check was returned for any other status (Account Closed, Frozen Funds, etc.), our in-house collectors will begin the process of contacting that debtor requesting payment for their dishonored check.
All successfully collected funds are reimbursed on a WEEKLY basis and you will receive another report indicating the names and dollar amounts that were collected. We reimburse our merchants electronically by directly crediting your account 100% of the face value of the check plus a portion of the NSF fee.
If we are unable to collect certain checks, we upload these debtor names to credit bureaus and the National Check Network where they will stay until paid. You will ALWAYS have the ability to request certain checks be sent back to you if you decide to either have us cease our collection efforts or if you will be taking legal action.
To learn more about check services, simply complete this request form.