For Businesses

Every company seeks to run an efficient and profitable business. Collecting funds on returned checks can be a burdensome and costly task. Statistics show that most Americans prefer to use paper checks as their primary method of payment. On average 1% to 3% of these checks are returned.

Utilizing state-of-the-art technology to provide an efficient turnkey electronic solution, all NSF checks are sent directly to the IBG electronic check processing center where the paper check is converted to an electronic format. IBG's experience indicates we will collect 75%-80% of NSF checks because the electronic re-presentment is submitted at the most opportune collection time directly from the check writer's bank account.

Benefits to the Small Business/Merchant:

100% of the face value of each NSF check recovered is returned: The check writer's account is charged the state regulated NSF fee to cover the cost of collection.

Faster Deposit to Merchant bank account: Transactions that are recovered are deposited directly into the merchant's account for reconciliation. Traditional collection methods take 30-60 days to recover the NSF items compared with 7 days using electronic check re- presentment. IBG pays clients daily!

Dramatic improvement in collection rates: The National Automated Clearinghouse Association (NACHA) reports increases in collection rates by as much as 50% over traditional collection methods. Recovery can be as high as 80%. The faster the NSF check is represented electronically, the higher the recovery rate.

Lower collection costs: Most banks charge $2-$4 to redeposit an NSF check, whereas with electronic check re-presentment there is NO charge for re-presenting the item. Most banks charge $5-$10 per re-deposited NSF check the second time; whereas, with electronic check re-presentment there is NO charge for NSF checks that are returned a second or third time.

Track items and download reports 24/7: Online reporting provides the fastest method of tracking returned checks. View or download reports by date range, store number or amount.

How much does it cost? It's FREE!

No set up fees, transaction fees or monthly fees.
No long-term contracts or monthly minimum fees.
No equipment to buy or lease.
No more re-deposit or return-check fees from your bank.

What checks are eligible for electronic re-presentment?

Checks must be "consumer" checks, business checks are not eligible for electronic re-presentment.
Checks must be less than 6 months old (180 days).
Checks must be less than $2,500.
Indicate on the face of the check that it was returned for insufficient or uncollected funds.
Must have a pre-printed number. Counter checks and starter checks are not eligible.

Getting Started:

First the merchant will need to sign a bank authorization form notifying their bank to mail all NSF checks to our processing center, and also complete the IBG application.
Merchants will need to post a notice (provided by IBG) at the point of sale to notify customers of their new check policy.