Having to deal with NSF check recovery is never a fun process, but it’s a necessary part in maintaining your business’s cash flow. It’s likely that everyone has or will bounce a check at one point in their lives, usually by accident, but it’s important to keep a tight grasp on your finances and what is or isn’t available to you. The fact of the matter is NSF checks aren’t great for anyone involved whether it’s the payer in arrears or the company seeking re-presentment.
The Problem: It Costs Everybody Money
There could be a number of reasons why someone doesn’t have sufficient funds in their account. Of course, direct fraud will negatively impact your business, but more often than not, it’s an accidental slip-up on the payer’s end. Regardless of the reason, significant costs can be incurred by both the payer and the business. From a payer’s standpoint, the minimum amount charged by a bank when a payer bounces a check averages around $28. A business, on the other hand, has to invest resources including time and manpower, in addition to relying on the bank to recover its money. Why not take a more proactive approach? Instead of waiting on the bank and check writer, consider a solution that will do the job for you- NSF check recovery services from Global Check Recovery.
Bounced Checks Can Affect Your Reputation
If you’re a small business, bounced checks don’t just deal a blow to your income, but the lack of expected money may also cause you to overdraw your own corporate account and incur unwanted fees. This directly affects your relationship with vendors or suppliers that work with you, unfairly labeling you as unreliable with your transactions. Your own bank will also penalize you while keeping note of your late payment records which can cause trouble down the road. For example, if you were to apply for a new business loan, a past littered with bounced checks could impede your eligibility to be granted the loan.
The Answer Is Simple: NSF Check Recovery
A speedy and reliable NSF check recovery service is your solution! Whether your customer made a legitimate mistake or intentionally committed fraud, your business suffers. Instead of counting on your bank to recover the funds, take matters into your own hands by implementing an NSF check recovery plan. With the help of Global Check Recovery, you’ll see faster turnaround and more recovered funds, not to mention peace of mind.