http://www.teamworkersusa.com/return-two/
Consolidated Check Returns
Consolidated Returns:
A consolidated returns program can reduce your returned check bank fee to as little as $2 per check or less, and improve your overall rate of collection by accelerating the returns process.
Your bank may currently be charging you $5 or more for each returned item. The Consolidated Returns process can reduce this fee by 50-80%. All that is involved is using a special endorsement stamp for all of your checks that is provided at no charge. This stamp tells the banking system to send all of your returned items straight to a Consolidated Returns account, bypassing your bank and their fees. Then, your account is debited the total of all bounced checks and a greatly reduced fee once a week from an account you designate. This saves time and effort on accounting as well because all bounced checks are reduced to one line item per week.
Advantages of using NSF Consolidated Returns:
• Reduces returned item bank fee by as much as 80%
• Improves your overall recovery rate by accelerating the returns process
Simplifies accounting
• Lets you know quicker when someone bounces a check to you so that you can prevent further losses by not accepting more checks from that individual
• Ideal companion service to an Electronic Check Recovery service
• Works well if you have 1 location or 1000 locations
Work Flow – NSF Check Recovery and Centralized Returns
NSF Check Recovery & Processing:
1) Merchant (payment intake) locations deposit consumer checks to Local Depository Banks.
2) Local Depository Banks process checks, receiving NSF check returns from the Federal Reserve several days later.
3) Local Depository Banks forward NSF check returns to a central ACH processing point, i.e.: 3rd party processor, or merchant’s corporate offices for processing (NSF Check Processor).
4) NSF Check Processor processes NSF check returned items through Affirmative’s ACH Applications to Merchant’s ACH Clearing Account at their ODFI (original depositary financial institution) – ACH Processing Bank.
5) The merchant’s ODFI processes the NSF check returned items through the Federal Reserve overnight, debiting the NSF Checkwriter’s account, and crediting the Merchant’s ACH Clearing Account.
Basic Service – Centralized NSF Check Returns
• NSF item intake, imaging, processing
• Return NSF paper checks to Merchant
1) Merchant location(s) deposit consumer checks, with a special endorsement stamp on the back, to Local Depository Banks.
2) NSF check returns are re-directed by the Federal Reserve from each local depository bank to a Central NSF Check Receiving Bank acting as the gathering and processing point.
3) Central NSF Check Receiving Bank images NSF items received from the Federal Reserve, retaining retrievable images of NSF checks for seven years.
4) Central NSF Check Receiving Bank ships NSF paper check returns to Merchant’s Corporate Office or 3rd Party Processor for ACH processing.
Manual Redeposit Service – Centralized NSF Check Returns
• NSF item intake, imaging, processing
• Manual redeposit service
• Return uncollected NSF paper checks to Merchant
1) Merchant locations deposit consumer checks, with a special endorsement stamp on the back, to Local Depository Banks.
2) NSF check returns are re-directed by the Federal Reserve from each local depository bank to a Central NSF Check Receiving Bank acting as the gathering and processing point.
3) Central NSF Check Receiving Bank images NSF items received from the Federal Reserve, retaining retrievable images of NSF checks for seven years.
4) Central NSF Check Receiving Bank manually re-deposits eligible NSF check returns.
5) Central NSF Check Receiving Bank ships uncollected NSF paper check returns to Merchant’s Corporate Office or secondary collection entity.
Electronic Redeposit Service – Centralized NSF Check Returns
• NSF item intake, imaging, processing
• Data entry optional – Third Party Vendor
• Electronic representment – Third Party Vendor
• Manual redeposit of business checks
• Return uncollected NSF Check paper checks to Merchant.
1) Merchant locations deposit consumer checks, with a special endorsement stamp on the back, to Local Depository Banks.
2) NSF check returns are re-directed by the Federal Reserve from each local depository bank to a Central NSF Check Receiving Bank acting as the gathering and processing point.
3) Central NSF Check Receiving Bank images NSF items received from the Federal Reserve, retaining retrievable images of NSF checks for seven years.
4) Central NSF Check Receiving Bank electronically resubmits eligible consumer NSF check returns a 2nd and 3rd time until collected.
5) Central NSF Check Receiving Bank manually re-deposits eligible business NSF check returns.
6) Data Entry Information captured by third party vendor:
1. Checkwriter’s Account Holder’s Name
2. Checkwriter’s Name & Address
3. ABA (Also known as Bank Transit Number) 9 Digits
4. Checking Account Number
5. Payment Amount
6. Check Number
7. Reference Number (number that will identify payment and Checkwriter)
8. Checkwriter’s Email address and or call back phone number (if required)
7) Central NSF Check Receiving Bank ships uncollected NSF paper check returns back to the Merchant’s Corporate Office or to secondary collection entity.
About the Author
C. J. & Tuck Consulting, LLC owns and operated Cash Flow Now (
http://www.cashflownow.org/
) offering a complete package of Electronic Payment Processing Services. We offer bad check recovery (
http://www.cashflownow.org/badcheckrecovery.htm
). For more information, contact: Pat A. McDavitt Author and Sole Manager of C. J. & Tuck Consulting, LLC Telephone: 512-837-1358 Fax: 512-837-0345
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14-Day Return AT&T Jawbone ICON Ace Bluetooth Headset – White Box Pack $99.99 14-Day Return AT&T Jawbone ICON Ace Universal Bluetooth Headset. Compatible with all Bluetooth enabled cell phones, PDAs and other devices. Bluetooth V2.1 compliant. Supports Headset Profile V1.1 and Hands-Free Profile V1.5. Supports Enhanced Data Rate (EDR). Supports Multipoint connection with two devices simultaneously. Offers the best audio in the category with NoiseAssassin version 2.5 and wind reduction technology. Remembers the volume level you set on one call until you change it again. Easy-to-operate On-Off sliding switch. Standard micro-USB connector. Offers a wireless connection range of 30 feet (10 m). Shows battery level on your iPhone?s status bar. Battery performance of up to 4.5 hours of talk time or up to 10 days of standby time. Built-in rechargeable li-ion polymer battery. Weight : 8.2 grams Size : 45 mm (L) x 18.25 mm (W) x 24 mm (H) Package Includes : Jawbone ICON Ace Bluetooth Headset 1 Generic Travel Charger |
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14-Day Return Jabra STONE Bluetooth Headset (White) – White Box Pack $59.99 Features : 14-Day Return Jabra STONE Universal Bluetooth Headset. Compatible with all Bluetooth 1.1 (or higher) enabled devices such as cell phones, PDAs and computers. Bluetooth 2.1+EDR specification. Lets you stream music from A2DP enabled phones. Revolutionary shape and ergonomic design. Dual microphones with Noise Blackout Extreme technology reduce background noise while enhancing the natural sound of your voice. Multi-function button for controlling various functions including answering and ending calls. Touch volume control. Supports call rejection, voice dialing, last number redial, call waiting and call holding (if supported by phone). Multipoint capability for connecting to two devices at the same time. StatusDisplay lets you check battery level and Bluetooth status at a glance. Specifications : Offers a wireless connection range of 30 feet (10 m). Battery performance of up to approximately 8 hours of talk time or 12 days of standby time. Charging time : approximately 2 hours Dimensions (H x W x D) : 2.3?? x 2.0?? x 1.0?? (58mm x 50.7mm x 24.7mm) Weight : 0.67 oz. (26g) Package Includes : 14-Day Return Jabra STONE Bluetooth Headset (White) AC Travel Charger Portable Base Charging Unit Quick Start Manual |
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14-Day Return Jawbone ERA Bluetooth Headset – White Box Pack $69.99 Features : 14-Day Return Jawbone ERA Shadowbox Universal Bluetooth Headset. Bluetooth version 2.1 with Enhanced Data Rate (EDR). Compatible with all Bluetooth enabled devices like cell phones, PDAs and computers. NoiseAssassin 3.0 noise and wind canceling technology for clear communication. Built-in accelerometer (motion sensor) and MotionX technology for motion controls. Dual micro-processors. Simultaneous Multipoint for managing audio and calls from two different phones or Bluetooth devices at the same time. 10mm wideband speaker brings full-spectrum and HD-quality sound as you talk on the phone, listen to music, and more. Multi-function button for controlling various functions including answering and ending calls. Automatic volume control. Voice announcements. On/Off switch. Jawbone battery meter automatically displays on your iPhone (BlackBerry and others available at MyTALK). Color LED indicates headset status and connection status. Specifications : Dimensions (L x W x H) : 2.02?? x 0.57?? x 0.95?? (51.3mm x 14.5mm x 24.1mm) Weight : 10.2 grams Bluetooth V2.1 compliant. Supported Bluetooth profiles : Advanced Audio Distribution Profile (A2DP) 1.2, Hands-Free Profile (HFP) 1.5 and Headset Profile (HSP) 1.1 Battery performance of up to 5.5 hours of talk time or up to 10 days of standby time. Offers a wireless connection range of 30 feet (10 m). Package Includes : 14-Day Return Jawbone ERA Shadowbox Bluetooth Headset (Black) Earbuds Travel Charger Micro-USB Cable User Guide |
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14-Day Return Jawbone ICON The Thinker Bluetooth Headset (Black) – White Box Pack $99.99 Features : 14-Day Return Jawbone ICON The Thinker Universal Bluetooth Headset. Compatible with all Bluetooth enabled devices such as cell phones, PDAs and computers. Bluetooth version 2.1 with EDR (Enhanced Data Rate). Supports Multipoint for connection with two devices simultaneously. Offers the best audio in the category with NoiseAssassin version 2.5 and wind reduction technology. Remembers the volume level you set on one call until you change it again. Easy-to-operate On-Off sliding switch. Standard micro-USB connector. Shows the battery level on your iPhone?s status bar. Specifications : Built-in rechargeable li-ion polymer battery. Battery performance of up to 4.5 hours of talk time or up to 10 days of standby time. Weight : 8.2 grams Dimensions (H x W x D) : 45mm x 18.25mm x 24mm Offers a wireless connection range of 30 feet (10 m). Supports Bluetooth Headset Profile 1.1 and Hands-Free Profile 1.5. Package Includes : Jawbone ICON The Thinker Bluetooth Headset (Black) Generic Travel Charger |
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14-Day Return Jawbone ICON-Series Hero Bluetooth Headset – White Box Pack $99.99 Features : 14-Day Return Jawbone ICON Hero Universal Bluetooth Headset. Compatible with all Bluetooth enabled devices such as cell phones and PDAs. Bluetooth V2.1 with EDR. NoiseAssassin version 2.5 with wind reduction technology for clear communication. Simultaneous Multipoint for managing audio and calls from two different phones at the same time. Easy-to-operate On/Off sliding switch. Shows battery level on your iPhone?s status bar. Standard micro-USB connector. Specifications : Offers a wireless connection range of 30 feet (10 m). Supported Bluetooth profiles : Hands-Free Profile (HFP) 1.5 and Headset Profile (HSP) 1.1 Battery performance of up to 4.5 hours of talk time or up to 10 days of standby time. Built-in rechargeable li-ion polymer battery. Weight : 8.2 grams Dimensions (L x W x H) : 45mm x 18.25mm x 24mm Package Includes : Jawbone ICON Hero Bluetooth Headset Generic Travel Charger |
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14-Day Return LG HBM-230 Bluetooth Headset – White Box Pack $29.99 Features : 14-Day Return LG HBM-230 Universal Bluetooth Headset. Compatible with all Bluetooth enabled devices including cell phones and PDAs. Echo cancellation and noise reduction technology delivers crystal-clear audio quality. Advanced multipoint connection allows users to switch between work and personal communications by connecting to two handsets at the same time. Multi-function button for controlling various functions including answering, ending and rejecting calls, voice dialing and last number redial. LED indicator tells you headset status, connection status and battery level. Fits either your left or right ear. Specifications : Weight : 9.8g Dimensions (L x W x H) : 48mm x 18.5mm x 11.4mm Offers wireless connection up to 33 feet (10 m) away from your compatible phone. Battery performance of up to approximately 13 hours of talk or music time, or up to 22 days of standby time. Package Includes : LG HBM-230 Bluetooth Headset Travel Charger Ear Loop User Manual |
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14-Day Return Motorola MOTOPURE H15 Bluetooth Headset – White box $29.99 Features : 14-Day Return Motorola MOTOPURE H15 Universal Flip Bluetooth Headset. Compatible with Bluetooth version 1.1, 1.2, or 2.0 enabled devices including cell phones and PDAs made by different manufacturers. CrystalTalk technology cancels background noise and echo using dual microphones and Motorola’s exclusive audio solution. Exclusive EasyPair technology helps simplify connection with your compatible Bluetooth enabled devices. Multipoint allows connection with two compatible Bluetooth enabled phones simultaneously. RapidConnect lets you simply flip open the microphone to talk and close to end calls. TrueComfort design with a molded speaker and a discreet flexible ear hook for a superb personal fit. Ear hook fits either your left or right ear. Multi-function button for controlling various functions including answering and ending calls. Integrated volume up / down control. Microphone mute function. Color LED indicates connection status, headset status and battery level (green, yellow or red). Specifications : Dimensions (H x W x D) : 1.54” x 0.94” x 0.47” Weight : 0.49 oz. Offers wireless connection up to 30 feet (10 m) away from your compatible phone. Battery performance of up to approximately 4.5 hours of talk time or up to 192 hours of standby time. Supports Headset Profile and Hands-Free Profile. Package Includes : 14-Day Return Motorola MOTOPURE H15 Bluetooth Headset Wall Charger Quick Start Guide |
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14-Day Return Samsung WEP450 Bluetooth Headset (Black) – White Box $29.99 Features : 14-Day Return Samsung WEP450 Universal Bluetooth Headset. Bluetooth version 2.0. Compatible with Bluetooth 1.1, 1.2, or 2.0 enabled devices including cell phones and PDAs made by different manufacturers. Active pairing function for quick and easy connection. Multipoint technology for simultaneous connection with two Bluetooth devices. Digital Signal Processing (DSP). Noise and echo cancellation technology. Multifunction button allows you to receive or end calls all with a push of the button. Integrated up/down volume control. Supports voice dialing, call rejection, last number redial, call holding and call waiting (if supported by phone). Fits either your left or right ear. Color LED indicates headset status and connection status. Specifications : Weight : 10g Battery performance of up to 6 hours of talk time or up to 200 hours of standby time. Bluetooth Class 2 offers a wireless connection range of 10 meters (33 feet). Supports Bluetooth Hands-free Profile (HF) and Headset Profile (HSP). Package Includes : Samsung WEP450 Bluetooth Headset (Black) Travel Charger Detachable Ear Hook Quick Start Guide |
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