Learn More – FAQ
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FREQUENTLY ASKED QUESTIONS
What type of checks can be electronically
re-presented?
-
Business and Personal Checks. We can only send
letters for business checks.
-
Check must be no more than 180 days old.
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Check must be less than $2500.00.
-
Proper notification must have been given at the
point of sale.
-
Checks must be returned as NSF, Insufficient Funds
or for similar reasons.
-
Checks may not be deposited more than a total of 3
times. Usually, checks are deposited once by the
merchant and 2 additional times by the RCK processor.
Are there any minimums?
Can our service be utilized to collect
out-of-state checks?
How much does the service cost the client?
Does the client have to sign a long term
contract?
-
No, there’s no long term contract to sign. In the
unlikely event that a merchant would like to stop using
our free Check Recovery service, all they have to do is
stop sending in checks. There are no cancellation fees
and we will continue to recover funds from the NSF
checks that are already in our system.
How quickly does the client receive
reimbursement?
Why should I use your redeposit service instead
of a collection agency?
|
Features |
GCR |
Collection Agency |
| Service Charge |
NO |
YES |
| Monthly Minimum |
NO |
Usually |
| Effective for Out of
State Checks |
YES |
Not usually |
| Minimum Account Size |
NO |
Yes |
| Minimum Transaction Size |
NO |
Varies |
| Success Rate |
70-80% |
40-50% |
