General Questions:
Q. How much does it cost?
A. After you pay a one-time set-up fee of $24.95 to include your
business in our system, all our services are free. The check writer pays a state established fee that covers the cost of RCK electronic check recovery and secondary collections. Out of that fee we pay postage, mailing, phone calls, certified mail, and processing fees. You get 100% of the face amount of the check upon full recovery.
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Q. Why should I use
Chexpert?
A. The owner is an attorney who has 10 years experience, knowledge, and
drive to get the job done. Chexpert is one of the few companies to offer Free secondary collection.
In some states Chexpert does the free secondary collections.
In certain states and in the difficult cases, the owner of the
company who is also an attorney has networked with a group of attorneys and collection
agencies throughout the United States. When an attorney contacts the bad check writer, it is proven to have more of an impact and evoke a quicker response, which means you get your money faster.
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Q. What is electronic check re-presentment?
A. Also called RCK in the collection industry, electronic check re-presentment is a legal process that allows Chexpert to electronically debit the returned check writer's account on behalf of our clients for the face amount of the check.
It requires posting a notice at the point of sale. This
procedure is governed by NACHA rules.
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Q. Can I pick and choose between Chexpert services?
A. Yes and No. Chexpert's service programs are additive, build upon each other. The basic service program is Chexpert
Basicsm. Chexpert
Plussm includes everything in the basic program, plus the option of Free secondary collection.
In some states Chexpert does the secondary collection while in
other states the secondary collection is performed by collection
agencies or attorneys. For those clients who have a large volume of bad checks each month, have many locations or already have their own in-house collection department, Chexpert
offers the latest state-of-the-art check collection software.
Click here for more information!
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Q. How do I get started?
A. If you want to adopt our service, it's as simple as filling out our agreement and the bank authorization form.
Just mail a check for $24.95 and the forms to PO Box 1349,
Granbury, TX 76048. Within a week, your bank
can be forwarding your returned checks to Chexpert for recovery.
Should you want to consider having your own software to handle part or all of the check collection process, please call or complete one of our online request forms and you will be contacted to explore the best solutions for your individual situation.
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Q. How long do I have to sign up for?
A. You may Sign-up for Chexpert at no cost and cancel anytime with 30 days notice. If you are like most clients, once you see how effective our service is, you will be a client for
a long time to come. We are now introducing consolidated
check returns and electronic check conversion at the point of
sale. These are added benefits and services for our existing
clients. You could start with our free service and
at a later time ease into a software solution to control more of the process.
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Q. How do I get my money from returned checks?
A. Upon
full recovery of your money, funds will be disbursed based upon
your selection in the Service Agreement. Your choices include
bi-monthly or monthly disbursements through
the ACH system.
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Q. How long does it take to get my money?
A. It varies, but we will start seeing your money come into us
within a couple of weeks to a month. It takes a month or two
to see checks work through the system well enough to start seeing
money come into your account. After several months, the momentum builds and up to 70%
of NSF checks will be recovered within 60 days from the time the checks are entered into the system. Another 15%
may take 30 to 60 more days. Recovery amounts vary from jurisdiction to jurisdiction depending on the success
of the secondary collection law firm or local prosecutors.
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Q. Is my account information secure on the Internet?
A. Absolutely, your financial information is protected on a secure server using the latest encryption techniques.
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Q. What if I don't have a computer?
A. No problem, we can notify you by fax of your returned checks
and collected funds. However, we prefer to notify you by
e-mail because we can keep you better informed of returned checks,
collections, and disbursements in a more timelier manner.
Our staff can help you obtain a free e-mail address and show you
how to use it.
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Check Collection Questions:
Q. What do I have to do to be in compliance with
NACHA?
A. In order for a merchant to electronically debit for the face
amount of the check, you need to post the Chexpert-provided stickers near the point of sale.
In order for a merchant to electronically
debit for the fee, there needs to be express authorization from
the check writer. State law sets the amount of the fee and
NACHA
rules and Regulation E govern the EFT debit for the
processing fee. We are not required to use electronic
methods for recovering the fee. However, your cooperation in
obtaining your customers' written authorization for the fee allows
us to offer you this free service.
There are five methods to choose from:
1) a stamp containing the authorization language stamped on each
check with the check writer signing at the point of sale; or 2) a
register generated authorization language with the customer
signing at the point of sale; or 3) prior written authorization
placed on the order form or contract.
In cases where written
authorization to debit for the fee is not obtained, we use letters
or phone calls
to recover the fee amount. If you have any questions, please call
Mark Piland at 817-579-0207.
Stamps are available from Chexpert.
You can have your own office supply store prepare the stamps if
you like. Please call us for specific language that is
required in your state. In the event your business does not receive
checks face to face, Chexpert will provide the minimum verbiage
which should be added to invoices, receipts or posted online at
the point where visitors submit an online payment.
In case you are not familiar with NACHA, it is a national trade association for electronic payment associations, which establishes the rules, industry standards and procedures governing the exchange of commercial ACH payments by depository financial institutions.
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Q. How will it affect my customers?
I'm really concerned about offending my customers.
A. RCK electronic check recovery has been proven acceptable to most returned check writers. NACHA research indicates
very few check writers complain about electronic check recovery.
If electronic re-presentment is unsuccessful in collecting on the returned check, we forward the bad check to FREE secondary collections, if selected by the client. We have carefully planned our approach and it is designed to have the least amount of negative impact on your customers. Our process ranges from a courtesy letter notifying your customer of an upcoming electronic charge, all the way to an attorney's legal demand letter and personal contact by phone.
This progressive approach allows honest mistakes to prove themselves exactly that.
On the other hand, some of your customers may require several letters that are increasingly demanding, with the hard cases only responding to a certified letter or call from our attorneys. We have years of experience differentiating true hardship cases and honest mistakes from people who are out to beat you. Our aim is to keep your customers happy yet recover your money. You can rest assured that when it becomes necessary, our attorney letters are more effective than typical collection letters.
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Q. I already have a check collection
service, why should I change?
A. We do everything that we can to make sure it is done right.
Make sure that your company of choice follows the law and rules
and does not wrongly debit check writers accounts in your name.
Chexpert's founder is an ACA Map attorney, a member of the
Internet and Check Services Division at ACA International, and
monitors the industry lawsuits and issues that may affect your
bottom line.
Chexpert never charges for its
RCK services. And when you obtain written authorization to
debit for the fee, we will even do your secondary collections for
free. We use state-of-the-art software that is designed to recover your money more efficiently and quickly. Our secondary collections includes a series of request for payment letters and phone calls.
Our experience has shown us that direct contact and letters from attorneys elicit more response
than a letter from a collection agency.
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Q. Can I accept payment
from my customers who write a bad check?
A. No, we do not want to duplicate efforts and risk charging your customer twice. Once a
returned check is entered into our database, the only way of removing it is to credit payment through our system. Should a customer offer to pay you for the returned check, you need to tell them to contact Chexpert at our toll free telephone number.
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Q. Why is electronic re-presentment better than sending the returned check back through my bank?
A. Many banks charge you a big fee each time a check is returned.
With RCK electronic check recovery, you cannot be charged the 2nd or 3rd time through. Also, when a bank sends the returned check back through the system, they have no motivation to specifically time the check to hit when the check writer has funds.
In contrast, Chexpert’s RCK collections are more successful because we make an effort to logically time the re-presentment to coincide with days the check writer is
most likely to have funds available. Finally, in the banking system an electronic debit will take precedence over a re-deposited paper check
so the electronic items pay first, meaning you get your money
faster.
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Q. How will I know when someone wrote me a bad check?
A. Your bank may notify you. Whether they do or not, Chexpert will
always notify you by
e-mail as quickly as you desire, giving you a list of all of your returned checks.
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Q. How will my customers know if they wrote a bad check?
A. Their bank will notify them. Chexpert will also notify them
when we receive the returned check.
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Q. Do you collect on
closed accounts, stop payments, and forgeries?
A. Yes we do, if merchants have selected Chexpert Plus. If Chexpert receives a returned check that is marked "Account Closed", we will contact the bank and request forwarding information. We will then send the bad-check writer a 30-day notice requesting payment. If no payment is forthcoming
we will transmit the check information to our Free secondary collection law firm for collection.
Many states allow criminal prosecution at this point, but we do not suggest you take legal action unless our secondary collection efforts fail. In the event Chexpert receives a returned check that is marked
"Stop Payment," Chexpert will notify the merchant and proceed accordingly. If you have indicated that you want Stop Payment items forwarded to the law firm, then we will forward those items also.
Any checks that are determined to be "Forgeries" will be retained as evidence and made available to appropriate law enforcement officials.
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