Wouldn't it be great if every check you received was paid the first time through the system? Unfortunately, that is not always the case. Some checks are returned for insufficient funds or for other reasons. So what do you do to conveniently collect your money?
One method of attempting collection of those returned items is to bring the check to us for collection. We will send the check and a collection letter to the bank on which the check is drawn. Typically we ask the bank to hold the check for 10 days to see if there are, anytime during that term, sufficient funds for the payment of the item. The bank holding the item will either return to us an official check if the item can be paid, or they will return the check to us at the end of the holding period.
We charge a per item fee for this service. (Note: The receiving bank may also charge a fee for monitoring the account and issuing their official check.)