Electronic Check Representment RCK

1
Electronic Check Representment (RCK)
2
The Meaning of RCK

• The conversion of a paper check returned and
• marked NSF (or uncollected funds) from a
• bank into an electronic check for presentment
• through the Automated Clearing House (ACH)

3
Guidelines

• Consumer checks only, NO commercial checks
• Limited Face Value Checks less than or equal to
  2,500
• Maturity 180 days from date written on the check
• For NSF / uncollected balances only
• Re-presentment Three tries to collect your funds
• Any combination electronic or standard 2 to 1 or
  vise versa
• Customer Information Visible customer
  notification to inform check writers

4
What is RCK?

• The conversion of a bounced paper check marked
  NSF into an electronic check for re-presentment
  and payment. Re-presentment is made through the
  ACH
• Yields a 25-35 higher rate of recovery than
  paper checks

• USED BY
• Merchants, collection agencies, check guarantee
  and recovery companies

5
How RCK Works

• Merchant receives check at point-of-sale.

• Check gets endorsed with RCK stamp

• Merchant sends check to his bank for payment

6
How RCK Works (cont.)

• Merchant bank sends the check to customers bank
  for payment.

• Customers bank pays the merchants bank.

• Check is returned NSF from customers bank.

• Merchant is charged NSF fee by bank.

7
How RCK Works (cont.)

• NSF Checks are sent to Collector.

• Collector sends checks to NSFdeposit.com for ACH
  processing.

• NSFdeposit.com makes payment.

• NSFdeposit.com reports back with concise account
  reporting.

8
Benefits
Why Use RCK?
9

• NSFdeposit.com, Where Good Things Happens to Bad
  Checks.