Who can use Re$ubmitIt®?
business that accepts checks, regardless of the number of bad checks it
What is Electronic Check Re-Presentment (RCK)?
RCK, or Re-presentment Check Entry, is the process of
converting a returned paper check into an electronic item and re-submitting it
to the check writer’s bank account through the Automated Clearing House (ACH)
Does RCK provide cost savings for a business?
Yes. You spend less time and resources on
traditional collection methods, like phone calls and letters.
Is RCK legal?
Yes. The process is federally
authorized and approved by NACHA – The Electronic Payments Association.
Additional information on this subject is available on the Federal Reserve
How many times can a check be presented?
A check can be presented to a check writer’s
account a total of three times – once by paper draft and twice
Can Re$ubmitIt® recover all my bad checks electronically?
No. Some items cannot be presented
electronically for recovery, e.g., if the account is marked “closed” or “stopped
payment;” if the amount of the check is over $2,500; if the check is from a
business; or if it is more than 180 days old.
What happens to checks that cannot be collected electronically?
In the event a returned check is not eligible
for collection via RCK, or those efforts have been exhausted, Re$ubmitIt® will
conduct secondary collection efforts. You are contacted to approve any further
collection efforts requiring legal services, such as filing suit to obtain
judgment and payment. In such cases, you will receive a percentage of the
collected face value, depending on the amount of the check and the steps
necessary to collect it.
Do I need to notify my customers?
Yes. You must notify customers of the Re$ubmitIt®
electronic check recovery policy by posting notification at the point of sale,
or by including notification on invoices, work orders, etc.