NSF Bounced Check Recovery - Insufficient Funds Made Good
If someone bounced a check on you, BCC can recover your money fast and efficiently. No more waiting 30 to 60 days for payments from the bank. Receive payment on recovered checks within 2 weeks. Most banks will charge $10-$15 for bounced checks; we eliminate bounced check charges you will incur and we recover your money FAST.
Here's how it works:
The National Automated Clearing House Association announced a new banking rule which allows for the electronic collection of NSF checks issued from bad check writers.
BCC now has the ability to convert a bounced paper check into an electronic funds transfer (EFT) which we process through the Federal Reserve Automated Clearing House (ACH). Once funds are recovered, they are automatically debited into your account and a check gets issued to you. We save you time and money you will likely spend trying to recover bounced checks. BCC will also place you behind the scenes, so you can avoid embarrassing situations with your clients.
It's as easy as 1-2-3
1- NSF check information you provide is converted through our database into an electronic funds transfer (EFT).
2- The transaction gets processed through the ACH network for check recovery.
3- Funds which were uncollected in step 2 get routed to our Customer Care Center which will randomly and periodically contact receiving banks to verify if the funds have become available. Once verification is obtained, an EFT is processed and funds get credited to your account.
Contact Steve Muller @ 212-947-1200 or smuller@bilateral.com if someone bounced a check on you. Our fees vary based on size and age of checks.
REMEMBER…WE DON'T GET PAID, UNLESS YOU GET PAID.
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The law and it requirements relating to "no good check charges" vary from state to state also what you may recover in addition to the actual face value of a check vary greatly among state's form nothing to 3 times the value of the check to as much as $500.00 additional penalties per check. The real answer is check with your attorney or someone with experience in the area. COD transactions are in a class by themselves and your rights in this area can be very dramatic.
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