Bad Checks Can Be Made Good!
By using a 21st century technological breakthrough businesses can now electronically collect NSF checks in as quickly as 48 hours.
(PRWEB) August 27, 2004 -- A new, ingenious system now helps owners regain
money thought to be uncollectible. Now business owners don’t have to worry about
lost revenues and profits due to bad checks. This service allows owners to
legally collect money owed to their businesses without hassling the customers or
bank. It also decreases the amount of time wasted on trying to collect from bad
checks and eliminates the need to hire a collection
agency.
The secret to this program! Federal Reserve
System 12FR Part 205 (Regulation E Docket No. R-1074).
12CFR par 205 is a
little known federal law that was passed by Congress to regulate how a bank can
electronically credit (add) or debit (subtract) money from a business or a
persons’ checking account. You may have heard of 12CFR Part 205 by the more
common name ACH credit or ACH debit.
What ACH
(Automated Clearing House) means is that with the bank account owner’s
permission and a computer, you can electronically withdraw from or deposit to
his account without any paperwork (without a check or without a deposit
slip).
Here are some examples of ACH debits and ACH credits you may have
done in the past...
- Your employer deposited your paycheck
directly to your bank account (ACH credit)
- Paid a bill
with your computer online. (ACH Debit)
- Paid a bill over
the telephone, called “check by phone”. (ACH Debit)
- Used
a debit card. (ACH Debit).
There is another use for ACH debits that very
few experts, even in the banking industry are aware of. If you read the really
fine print of 12CFR Par 205 carefully you will see that….ACH debits can also be
used to collect bounced checks! Usually the check issuer will usually only find
out that the money was taken from his account when he receives his monthly
statement or a notice from his bank!
The service is 85% better at
collecting money from bad checks than the old method of re-depositing the check,
hoping it doesn’t bounce again. It’s also less time consuming and less expensive
than the average collection agency – which may be unsuccessful at collecting the
debt.
What benefit is this to the business owners?
Simple, they get
money rightfully owed for a product or service the customer has received. Plus
the service is free! The business gets 100% of the face value of the bounced
check. There is no fee to the business owners for the service. There are no
monthly minimums of checks that need to be submitted and no minimum dollar
amount. There are no set up charges and best of all checks as old as 180 days (6
months) can be submitted for recovery. Plus all the money collected can be
reviewed on our website by the business owners.
Here's how you can find
out more about this new, FREE service and how it can help your business collect
money rightfully owed:
Call: 305-284-8858 and give priority code
23502BP
Email: e-mail protected from spam bots
Visit website: http://www.nsfchecksolution.com
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Source : http://www.prweb.com/releases/2004/8/prweb152798.htm