Daily Monitoring is the confirmation of the check writer's account to determine if the re-presentment of a non-sufficient funds check will clear. It requires a telephone call to their bank.
Blind Re-Presentment is debiting an account without first verifying funds. Timed re-presented is an account based on paydays (1st and 15th).
| Daily Monitoring |
Blind or Timed Re-Presentment: |
- is a funds confirmation process
- increases the odds for recovery
- protects the check writer from excessive bank fees (up to $120 per check)
- keeps the check alive and collectible
- allows us to collect a check within 24 hours of account funding
- is a labor intensive strategy that few companies in the industry are willing to do
- reflects the values and principles that guide Cash Flow Solutions' technology and customer service.
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- is a funds guessing process
- decreases the odds for recovery
- exposes the check writer to exorbitant bank fee
(up to $120 per check)
- kills the check after two failed attempts
- has no idea when funds are deposited into customer's account
- is a low-cost strategy that most electronic companies use to increase their profits.
- reflects the values of a recovery company more interested in their bottom line than yours.
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