Overview of the system
- e Cashflow Systems reduces NSF check costs and increases collection rate
- Deposit checks as you normally do
- Your bank sends NSF checks directly to us
- We convert the check to an electronic debit which allows two opportunities to redeposit the check
- Online real-time reporting of all NSF checks, amounts, check images, status of check, etc.
- Monthly reports are emailed or faxed
How we increase collection
- Total 3 bank presentments per NSF check versus two for normal paper method
- We use a patented automated sweep technology to verify funds in an account
- Intelligent redeposit -- Electronic transactions can be timed to hit bank accounts on the 1st and 15th of the month. Banks just redeposit when checks come back NSF not taking into account real world habits, pay periods, etc.
How we reduce your fees
- NACS members do not pay Redeposit or NSF fees with our two re-presentments
- No transaction cost or % face value charge as with check guarantee programs
- Free secondary collection -- 100% of check is always returned to NACS members
How we get paid
We charge the writers of the NSF check a service fee allowable by law by state.
Requirements for NACS members
Place notification disclosure on customer statements.
We do not require contracts, our reporting system is highly detailed and is available in real-time. We can test this service with no obligations until you are satisfied that it works for you.
The system does not require software or hardware, we simply inform your bank(s) of your desire to utilize this service, and the rest is up to us.
NACS members never pay fees; we pay you 100% of the face value of the checks electronically collected.