Community Bankers Association of Illinois

New CBSC Service Makes Good Things Happen to Bad Checks!

Returned checks have always been a problem for most businesses. Collecting an NSF check takes time and can be embarrassing for both the business owner and customer. Maintaining good customer relations is the lifeblood of any successful business.

Check Resultz, CBSCís newest marketing partner, collects bad checks electronically through ACH at no cost to the business or the bank. And the bank earns a share of the fee paid by the bad check writer!

Through Electronic Check Presentment (RCK), Check Resultz converts the bad check into an electronic transaction and debits the customerís account for the amount of the check. A second transaction covers the fee.

Customers are not required to personally deliver cash to cover the check. They also avoid the embarrassment of receiving collection calls at home or work, and arenít bothered by receiving collection notices in the mail.

Banks that re-present bad checks electronically report doubling their check collection rate from 40% to 80%.

Mary Ellen Jaynes,Vice President of Commercial Banking at Jackson County Bank of Seymour, said the bank started providing a similar service to its 1,100 business depositors in April 2006, and asked them to opt-out if they did not want it. Only about 120 customers opted-out, she said.

Today, she reports slightly higher merchant attrition, adding that large businesses use their own resources to collect checks. She said the program requires little additional work for the bank, provides a valued service for the bankís business customers, and generates a new revenue stream for the bank. Ms. Jaynes said, ďitís a no-brainerĒ.

For more information about the Check Resultz Check Collection Program for community banks, contact Mike Duke at miked@cbai.com or by calling 800/736-2224.

  800.736.2224 (IL) | 217.529.2265  
  DISCLAIMER: The association is not responsible for and has no control over the subject matter, content, information, or graphics when viewing links attached to this association's site.