RCC (also known as Centralized Returns)

CheckCare now offers RCC (Returned Check Consolidation) to reduce merchant bank fees as much as 80%. How?

Each year 49.1 billion checks, valued at $197 billion, are written because consumers continue to prefer using their checkbook to budget their finances. Each year 30 million checks are returned NSF, account closed, etc. Banks are capitalizing on this by annually increasing the return check fee they charge depositing accounts by 4.5%.

• The merchant stamps the back of the checks before depositing items with a special endorsement stamp instructing the consumer’s bank to route any returned check to our central bank account. This stamp will include the merchants name, depositing account, and store number, if applicable.
• If dishonored, item is debited electronically from the merchant’s bank account at a reduced rate.
• The returned checks are imaged and posted on a secure website within 24 hours of return.
• The returned checks are forwarded to CheckCare for collections.

Benefits:

• Save on returned check fees.
• Increase available operating funds.
• No extra hardware to purchase.
• No special employee training.
• Online viewing of returned checks.
• No special consumer instructions.
• Returned checks are available for collections sooner.
• Returned checks are posted quicker to negative databases.