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Recovery Data Services, Inc. (RDS, Inc.) provides a Free but extremely effective service to our clients. We are able to turn NSF (Bad) checks into electronic debits and recover the funds directly from the Bad check writers account. Rather than having our clients redeposit bounced checks and incur additional fees, we provide a form that will instruct the client's bank to immediately forward all returned checks directly to our processor. Our service is very effective for small or large companies and does not require any setup fees, monthly fees, or equipment to purchase.
Our Free electronic recovery service can drastically improve our clients' accounts receivable time and eliminate the fees paid to traditional collection companies. The electronic debit takes precedence over all paper checks that have been presented and provides our clients with two Free electronic attempts to collect their Bad checks.
Our collection success makes it possible for some businesses to again accept checks who have had problems with bad checks in the past. The RDS, Inc. Bad Check Collection Service has the potential to collect over 90% of a client's bad checks, depending upon the industry profile. With the normal manual check recovery process you're lucky to achieve a 45% recovery rate.
In fact, our processor returns 100% of the face value* of Bad checks collected right back into your business bank account electronically. Our clients never again have to allocate time and energy or pay away good money to collect Bad checks!
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NACHA - The Electronic Payments Association is the leading organization in developing electronic solutions to improve the payments system.
NACHA represents more than 12,000 financial institutions through direct memberships and a network of regional payments associations, and 650 organizations through its industry councils. NACHA develops operating rules and business practices for the Automated Clearing House (ACH) Network and for electronic payments in the areas of Internet commerce, electronic bill and invoice presentment and payment (EBPP, EIPP), e-checks, financial electronic data interchange (EDI), international payments, and electronic benefits transfer (EBT).
NACHA is dedicated to improving the payments system through its eight primary functions. These are:
1. - Rule-making for the ACH Network and other payments systems;
2. - Facilitating the development of new payment applications;
3. - Identification and implementation of risk management initiatives;
4. - Providing and supporting education programs;
5. - Instituting and monitoring quality controls in the payments system;
6. - Improving member communications/relations;
7. - Responding to regulatory and government relations issues; and
8. - Marketing electronic payment services.
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RCK (Electronic Check Re-Presentment) Processor RDS, Inc. uses is capable of recovering large and small volumes of checks while providing top notch customer service and enhanced reporting to any size client. The RCK system will convert the paper check into an electronic transaction, under the NACHA rules, and automatically debit the amount of the Bad check, plus the state allowable fee from the Bad check writer's account. The RCK processor can make two attempts to collect the funds. Upon successful collection, the RCK system will electronically deposit 100% of the face amount* of the recovered check right back into the client's bank account. The few checks that can't be collected, because account is closed, stop payment or fall outside NACHA guidelines will be forwarded to the Free Secondary Collection.
* Client shall receive 45% of check amount on any secondary collection that was over one year old when submitted.
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