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want to learn more about our products and
services, please complete the form
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FREQUENTLY ASKED QUESTIONS
What type
of checks can be electronically re-presented?
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Personal checks. GCR can only send letters for business
checks.
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Check
must be no more than 180 days old.
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Check
must be less than $2500.00.
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Proper
notification must have been given at the point of sale.
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Checks
must be returned as NSF, Insufficient Funds or for
similar reasons.
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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?
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No, the
client may send as many or as few checks as they want.
Can our
service be utilized to collect out-of-state checks?
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Yes,
the system can collect checks written anywhere in the
U.S.
How much
does the service cost the client?
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Nothing! We get paid the check return fee. There are
never any fees to the client.
Does the
client have to sign a long term contract?
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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?
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The
client receives payment every week for funds recovered
and settled the previous week. They also receive weekly
reports that detail the checks that have been entered
into the system and payments received.
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 |
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Minimum Transaction Size |
NO |
Varies |
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Success Rate |
70-80% |
40-50% |
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