Any company that receives checks or processes ACH transactions is going to have some of them returned.  As a rule these items are sent to the merchant’s collection agency, who on behalf of the merchant will resubmit them through the ACH network for electronic redeposit.  Typically 65% - 70% of these items will clear when electronically represented, and the collection agency pays these items back to their client.  The collection agency will then originate another debit to the check writer’s account to collect a state authorized collection fee.  (This fee is set by each state with the average being $30.00.)  It’s the collection of this $30.00 fee that the agency uses to fund the operations of their business.

This scenario plays out hundreds of thousands of times each day, and it works well for both parties as the merchant gets his checks collected and the collection agency makes enough money to offset the costs of offering the service. 

Check Assist has created an “online electronic recovery solution” that allows you to offer electronic representment to your clients and to share in the money that until now has been kept by the collection agency.   As explained earlier, the collection agency is keeping the $30.00 collection fee to run their business.  But because the Check Chase Online representment service is completely automatic, it doesn’t require as much funding to keep it running.  So instead of keeping the entire $30.00 collection fee, we share it with the merchant, who until now has been receiving little (if any) of it.  And you are going to make money also because we are going to share part of that fee with you too!

Here's how it breaks down.  Of each $30.00 fee collected we will give the merchant 40%, or $12.00.  We give you 35% of the fee, or $10.50, and Check Assist keeps the balance to fund the operations of the software. 

Acquiring new clients is easy because you will be giving them back $12.00 of each collected fee.  Approach the merchant and inquire about his check collection agreement.  Ask him how it works and how much of the NSF fees he is getting from his agency. 

Then let him know that your system electronically redeposits checks the same way that his collection agency does, but that your system is far more efficient and therefore you can rebate back to him 40% ($12.00) of each collected fee. 

When you show the merchant how much more money he will get using your system, it generally isn't hard to get him to switch services.  Additionally, the Check Chase Online system is just that... it's an online system.  So the merchant will be able to visit his checks online, anytime he wants.  He can download data, view images, delete checks from the collection process, and a host of other useful functions that are not possible with his current provider.

The system is very easy to use and Check Assist furnishes each merchant with toll free access to assist with any customer care needs.