Atlantic Stewardship Bank is here to help you with all of your business needs, including one of your biggest headaches—returned checks.
Atlantic Stewardship Bank's electronic check recovery service, Re$ubmitIt® significantly reduces the burden of collecting funds from NSF checks, while potentially doubling your recovery rate. You collect more returned checks and get 100% of the face value of all checks that are collected electronically!
How Does Re$ubmitIt® Work?
To be Eligible for Electronic Recovery, a Returned Check Must:
• Be a personal check to a business (not business-to-business)
• Be under $2,500
• Be less than 180 days old from date of transaction
• Cannot have been already submitted twice, either electronically or by paper draft
The Re$ubmitIt® electronic check recovery service handles the
collection process electronically from beginning to
end, via the Automated Clearing House (ACH) network for
re-presentment directly to the check writer’s bank account.
1. Returned checks are sent from Atlantic Stewardship Bank to
Re$ubmitIt®, where eligible checks are converted into electronic items for re-presentment to the check writer’s bank account for collection.
2. The electronic check file is processed and strategically timed
for re-presentation. Presenting checks at proven
“smart dates” improves the chance of collection.
3. If the item is not recovered on the first electronic
re-presentment, it is re-cued for a second electronic
re-presentment (third total). If this third presentment fails, the check can be sent to Re$ubmitIt’s FREE secondary collections, or the check can be sent back to you.
4. Upon settlement, 100% of the face value of the check
is reimbursed to you automatically. The check writer’s
account is charged a state-regulated collection fee to cover
the cost of collection.
If you have questions about the Re$ubmitIt® electronic check recovery service, please email them at firstname.lastname@example.org