Electronic Check Re-presentment
When you're stuck with a bounced check, collecting your funds using traditional paper re-presentment can be time-consuming. First Financial Bank's e-Returns service is designed to speed up the collection process and improve the recovery rate on returned items.
e-Returns is an RCK ( Re-presented Check) solution, in which eligible checks returned for non-sufficient funds are converted to electronic transactions and re-presented for payment through the ACH (Automated Clearing House) network. According to the National ACH Association, banks that provide an RCK solution see an average recovery rate of 80% on all returned items.
Benefits of e-Returns
Third Presentment Option You can re-present a returned check two times, with the option of scheduling second and third re-presentments to maximize the likelihood of funds being available.
Timely Reporting We will provide your business with detailed reports of the checks re-presented and whether or not they were collected. After the third presentment, uncollected checks are returned to you.
Easy Implementation Your only responsibility is to display a small notice at the cash register and/or include a disclosure with your statements to notify customers that all eligible checks returned for non-sufficient funds will be re-presented electronically and that a fee will be assessed. We will supply you with the necessary disclosures.
No Cost to Your Business First Financial Bank provides this service at no charge, regardless of the number of returned checks submitted. You receive 100% of the recovered funds. We charge a collection fee to the check writer that covers expenses associated with the service.
First Financial Bank is here to help with all of your business needs. For more information about e-Returns, talk to any of our banking center managers or call 800-511-0045.