Check
Services & National Check Recovery, LLC
National Payment Solutions (NPS) in association with National
Check Recovery (NCR) provides merchants with traditional forms
of collection and recovery of returned checks. Dealing with
return items electronically offers many benefits to Merchants.
NPS provides a sense of security for businesses accepting personal
checks. Merchants may now focus on the core of their business,
rather than spending endless amount of time on the recovery
of returned checks.
Program 1
Non- Guarantee
We guarantee 100% of the face value of the check upon our
collection of that check.
Procedure : Merchant accepts check at point of sale.
The EFT stamp is placed on check as well as an additional
signature of the check writer*** Merchant deposits check into
their account. Merchant's bank forwards all return items directly
to our office for processing . The EFT stamp allows NCR to
electronically debit the customers account when the funds
become available.
Program 2
Guarantee
We guarantee 100% face value on all returned items regardless
of the return reason. This guarantee is for checks stamped
NSF, ACCOUNT CLOSED, REFER TO MAKER, UNCOLLECTED FUNDS, or
ACCOUNT NOT FOUND.
Procedure: Merchant accepts check at point of sale.
The check must have the following criteria:
- Checks must be imprinted / no counter checks allowed
- The check must be for the amount of purchase only
- The following information is required on all checks:
NAME
ADDRESS
HOME PHONE w/ Area Code
WORK PHONE w/Area Code
ID Merchant is required to stamp check with EFT stamp and
have check writer sign. Merchant is guaranteed face amount
of the check and reimbursed for all items meeting guaranteed
requirements. All returns not meeting requirements fall
under PROGRAM 1.
Program 3
Verification
This program uses a check reader at the point of sale that
polls a data base. The data base is feed by merchants all
over the U.S. It reports negative activity on checking accounts,
including accounts closed , stolen, forged, counterfeit and
unpaid checks.
Procedure : Merchant accepts check at point of sale.
The equipment accesses the data base. It then approves or
declines the check. It will also give a message as to why
the check is declined.
Program 4
Centralized / Consolidated Returns
Consolidate all returned checks into one account with NPS's
sponsor bank
Special "Endorsement" stamp will be used to route
all returns to one account
Each location would continue to deposit the checks in their
local depository bank accounts
If check clears nothing changes, monies are deposited to
each of your depository banks
If check is returned (for whatever reason) it is routed
to your account at our sponsor bank
NPS automatically debits your consolidated returns account
for the total of each day's returns
| Benefits: |
| Improve
the Company's Benefits
Reduction of Fees /
Elimination of most NSF Fees
Reduction of Interest
Expense / Funds available for Investment
Simplify your Account
Reconciliation Process
Expedite Reporting
and the Collection Process
On-Line Reporting with
Return Transactions and Images |