The
Opportunity of a Lifetime
All the
electronic check collection opportunities that we have seen work
pretty much the same way. You do the sales,
somebody else does the processing, and the collected fees are
divided between the respective parties.
For a large segment of the people, this sales/processor
arrangement will work very well. But if you are looking
for the opportunity to move beyond the limitations of a sales
agent, then you need to cut the middleman out, and that's what
Check Assist can offer you that the others can't.
At Check
Assist, we create, sell and support the best electronic
check collection software available in America today.
Our electronic check collection software makes short work of
processing electronic checks through the ACH. The merchant
gets his money and you get to keep the NSF Fee. (Usually around
$25.00 per check) You do the math, collect 10 checks a
day, make $250.00, collect 20, and make $500.00, etc.
When you use
our software you will be building your own business.
The accounts that you sell will now be your accounts, and
the business you build will be your business, not somebody
else's. And as the owner of your business, you keep
all the money, not just a percentage of it.
The
opportunity before you is an exciting one. Never before has
someone had the possibility of making residual income year after
year, in an industry that charges nothing for its services.
Check Assist
was founded early in 1990 as a check recovery agency. Our
on-site software development team took up the task of developing
software that would address our customers individual needs and
automate the day-to-day processes associated with the check
recovery industry. The result was s finely tuned software
program that subsequently became the engine that makes this
opportunity possible.
In 1997, a
small group of companies were given the go ahead to test a pilot
program put out by NACHA. (National Automated Clearing House
Association) The pilot was initiated to test the
feasibility of electronically debiting a consumers checking
account for the face value of his or her NSF check. Critics of
the program felt that consumers would protest the electronic
debiting of their checking accounts, and that the complaints
would be overwhelming. The pilot ran for one year and
produced some interesting results.
The expected
complaints were few and far between. Surprisingly enough,
the majority of checkwriters liked the process far more than
having to take care of their checks in person. The pilot
became a process called RCK and on September 19th 1999,
merchants and processors were able to utilize the ACH to recover
their NSF checks.
Aware of the
changes that RCK was about to make in the industry, we
integrated the RCK process into our collection software.
The result was exceptionally strong software that sets the
standards by which RCK software is now measured.
We are excited
to be able to offer you the opportunity to join the growing
number of RCK professionals that are capitalizing on this
exciting new method of check recovery. We feel that when
you compare our investment fee against that of any other
high-income business opportunity, that you will quickly see that
our program is not only the easiest and best valued opportunity,
but it also possesses the highest income potential of any
comparably priced opportunity.
So,
how much money can you make 
electronically
processing checks?
As you know,
there is seldom a free ride, and the amount of money that you
can expect to make will be directly related to the amount of
effort that you put into your new business. It is possible
though, to project your income based upon facts that we already
know. For instance, the typical convenience store gets
between 6 and 12 NSF returned checks every month. If you
sign up 10
stores that are getting 9 NSF returns each month, and you
recover 75% of these checks, you will earn $20,250.00 per year.
Sign up 20 stores equivalent in nature and you will make
$40,250.00. One of our users currently has almost 2,000
stores that they process for, and just one of the accounts
brings in $25,000.00 per month by itself. This user is obviously
making a very nice living from collecting checks.
As in any
business, there will be those who purchase the opportunity and
never do anything with it, and yes, we have a few of them.
But the entrepreneurs that have applied themselves are usually
processing between 700 to 1,500 checks per month after the first
year. Also, as is the case with any business opportunity,
we have our share of major success stories too. One of our
best achievers started in November of 2000 and within 7 months,
was processing over 900 transactions per day.
What
kind of competition is already in the marketplace?
This industry
is just starting to take off. In the earlier years, very
few merchants knew what RCK was and educating them on the
benefits could take some time. Today, most merchants not
only know what RCK is, they are seeking it out.
Should you encounter competition in a specific area, it should
be easily overcome by offering the merchant some of our value
added services.
- Free
electronic check verification
- Your
competition will be charging for check verification, if he
even offers it at all. As Check Assist maintains its
own check verification center, we can offer you verification
prices that are so inexpensive that you can afford to give
it away to your clients. We have landed many accounts
over the years by providing them with free check
verification.
- Free
secondary check collections
- Your
competition will more than likely be charging the merchant
between 15% and 35% to collect checks that fail the
electronic check re-presentment process and have to be
forwarded on to a secondary collection agency. As we
have been developing check collection software since 1990,
we have a wonderful group of full blown check collection
agencies that will be happy to collect your client’s
checks without charging a percentage of the face value of
the check.
- On line
reporting will give your clients the ability to view their
returns 24 hours a day, 7 days a week.
- Here’s
an explanation of how the process works.
 The
merchant signs a bank release form, notifying their bank to
mail all returned checks to your P.O. Box after the first
presentation.- A sign is
posted at the point of sale to notify customers that should
their check be returned, their bank accounts will be
electronically debited for the amount of the NSF check, and
that a State authorized processing fee will be assessed.
- When a check
bounces, it will be mailed directly to you by the merchants
bank.
- Because the
checks are being sent directly from the bank to you, the
merchant will not know that a check has been returned unless
you tell him. This is handled automatically by the
software, which creates a detailed notification report which
can be mailed, delivered via an email attachment, faxed or
posted to the web.
- When you
receive an NSF check, you enter it into your software and
schedule it for the electronic re-presentment. You may
select any date that you wish but targeting
"smart" dates is recommended. Smart dates
are Fridays or the 1st and 15th of the month. The
software automatically calculates the proper NSF charge for
the store that the check was written to.
- On the
chosen date, you press the transfer button on your software
and the checks are sent via the Internet to our processing
department. Here the checks are converted into
electronic debits and are processed through the ACH to be
debited from the checkwriters bank account.
- Once the
money has been debited from the checkwriters account, it is
electronically transferred into your business account.
The software determines how much of the collected money
belongs to you and how much belongs to your client. A
detailed recovery report is created and sent to the client
via email, while at the same time your client's money is
electronically transferred into their account.
- Not all
items will clear on the first electronic attempt, and these
checks will need to be rescheduled for a second attempt.
(Checks may be re-presented a total of two times
electronically)
- The software
will gather all the checks that need to be re-presented a
2nd time and will create a computerized list that will allow
you to call the bank to verify the availability of funds.
Our software will provide you with the phone number of the
bank should you wish to call and verify funds or you can use
the software's CAPS Plus module to monitor the checkwriters
account status. When you determine that money is
available, you release the check and it is sent back through
the ACH to be debited from the checkwriters account.
- Checks that
are not recovered electronically, such as closed account,
etc., can be forwarded on to one of our full service check
collection affiliates where traditional check collection
methods are applied.
The software
that you will receive is a complete check
management system. You don’t have to concern
yourself with whether the check qualifies for re-presentment or
not, as the software already knows the rules that govern
electronic check collection. If a check doesn’t qualify
to be electronically collected, the software won’t send it
through the ACH. Checks that can be electronically
collected are:
- Checks
under $2,500.00
- Personal
checks.
- Checks
that are less than 180 days old.
- Checks
that are returned NSF or an equivalent thereof.
The software
has been designed to conduct a series of procedures and reports
that when performed daily or weekly, will aid you in the
organizational procedures of your day-to-day collection
activity. Remember, this software was developed by
collection professionals to facilitate the business of
processing and managing check recovery.
- So,
what does it cost and
- what
can you expect to receive?
Your
Investment is just $5,495.00. You will receive:
- Merchant
sign up forms, bank release forms, etc. These forms
come on CD and can be easily modified to fit the needs of
your new business.
- Our
Check Chase Plus collection software with 5-user upgrade,
ACH processing module, 3rd party collection export module,
and automatic client reimbursement option. This
software is undeniably the very best RCK software available
on the market today.
- Check
Chase Plus also has the ability to send out a series of
follow-up letters to aid in the collection, should the RCK
process fail.
This does not mean that you have to use this function, but
considering the amount of money that can be made in
secondary collections, it is certainly nice to know that you
will have the ability to take advantage of it if you like.
(Individual states have different licensing requirements for
check collection. Before you engage in the check
collection or check representment industry, you should check
on the requirements for your state.
- Sales
tracking software to track commissions for your sales
people.
- Unequaled
support on our software and the industry in general.
- NACHA
rules book to keep you informed on the rules governing your
new business.
- MagTek
check imager to accelerate check entry and capture check
images. NACHA rules require that you keep an image of
the check for 7 years.
- Marketing
materials
- Ability
to provide on line reporting options for your merchants
- Office
setup, daily schedule, errors to avoid, etc.
We also provide
other services that will enhance your recovery business or that
can be marketed to your existing or future client base.
-
Electronic
check verification is the process of using a check reader to
capture the MICR information located on the bottom of a
check. This information is sent to a database
containing negative information on checkwriters with unpaid
checks. You receive a generous buy rate and you
may mark it up as desired. You can also resell our CAPS
Plus verification
service, which provides virtually real time access to
more than 210 million checking accounts.
- Point of sale conversion is the conversion of
a paper check into an electronic transaction.
An
image of the check is captured at the point of sale and
stored at our processing center. When an electronic
check is returned, we forward the image back to you to be
imported by your Check Chase software. With the image
and checkwriter information, you can now electronically
re-present the electronic check and collect the NSF
collection fee. This will be a win-win
situation as you will be making money selling point of sale
conversion as well as making money collecting an NSF fee on
the ones that bounce.
-
While
you are marketing your new service, you will find that there
are 2 types of people that you will encounter. Those
that see NSF checks as a liability and see trying to collect
them themselves as throwing good money after bad.
These people will probably be an easy sell for your new
business. Then there are those that see NSF checks the
same way that you do, as a profit center. If you bump into
the latter, you can pretty much forget getting the account.
Instead of walking away without a sale, you can tell them
about our check collection software. Usually these
companies are using an outdated and labor-intensive system
to do their check collection. Check Assist has 4 different
versions of check collection software, ranging from
$2,495.00 to $10,495.00. Our Check Chase Plus at
$2,895.00 is usually an easy sale in a situation like this,
and now, instead of walking with nothing, you will receive a
35% commission on the software sale.
-
As
a Check Chase user, you have the option of purchasing a
private label license for reselling our software. When
you purchase a private label license, the Check Chase
software is modified to project a brand name that indicates
the software as being your development. All logos and
labels all present a name chosen by your company. Each
copy that you sell is purchased from us at a 35% discount
rate from our advertised price. What you then resell
it for is up to you. Additionally, all electronic
transactions that are processed with the software will be
billed to you at .10 per transaction rate and you are
free to up sell these transactions as desired. Most
private label licensee’s up sell transaction fees to
around $1.00 per transaction. Private label sales not
only make you immediate profit from the upfront sale of the
software, but also provide you with ongoing residual income
from all the transactions that processed.
-
What
are Consolidated Returns? Consolidated Returns is the
redirection of a returned check from your clients bank,
referred to as the "Bank of 1st Deposit", to
a bank that charges a substantially reduced return item fee.
These returned item fees, usually between $5.00 to $15.00,
can be reduced by 60 to 80 percent.
-
Some
benefits of consolidated returns:
-
This
service will save your clients money immediately, therefore
increasing client retention.. There is nothing for them to
do differently and they won't have to change anything at
their bank. They simply stamp the back of each check
with an endorsement that tells the Fed to send the returned
check to us instead of back to their bank.
-
You
will make money offering consolidated returns.
You have a buy rate from us which you are fee to mark up as
desired. Even if you provide it at cost, you will
effectively lower the rebate that you are giving them.
It only makes sense, the lower the returned item fee, the
less you have to give back to offset it. Consolidated
returns is a win-win situation for both you and your client
alike.
- In
Conclusion
No
other company in this industry can offer you the ability to make
the kind of money that this opportunity can. We work
closely with our entrepreneurial students and help them in every
way we can. Our success depends on your success and we
realize it. Look at the competition and you will find that
our start-up fee is virtually nothing compared to what you will
receive and more importantly, what you will make by owning your
own electronic check recovery company.
Keep
in mind that the business you are building will have resell
value. If you are selling for somebody else, you are
building equity for their business, not yours.
-
With
Check Assist, you will be building your own business, not
somebody else’s.
-
The
other companies offer you commissions, we offer you
ownership.
-
With
other companies, you can earn between $5.00 to $10.00 per
collected check. With Check Assist, you will earn
$25.00 - $30.00 per collected check.
We
hope that we have made you aware of just how lucrative
electronic check recovery can be. There is no need for you
to spend $30,000.00 to $100,000.00 on a franchise that will
require that you work 60 hours a week for a $45,000.00 a year
return. Take advantage of this tremendous opportunity now,
and secure your place in this rapidly expanding industry.
Call
Laurie at Check Assist for more information on how you can make
a career in check processing (888) 436-5101 Ext 21
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