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Presenting ecap free check recovery
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Transcript of Presenting ecap free check recovery
One Company… One Call. ecap, a Solveras Company
Presenting ecap free check recovery
To join the audio dial 630-869-1017 Access Code: 955-760-669
Your host is Rich Blairemail at [email protected]
866-767-0215 cell
Please bookmark web page www.richblair.com/quick.htmlwhere you can also download this PowerPoint presentation
One Company… One Call. ecap, a Solveras Company
Electronic Check Alliance Processing (ecap)
Presentation ofCheck Recovery
andSecondary Collections
One Company… One Call. ecap, a Solveras Company
Today’s Agenda
About ecap
Accountability
Advantages of the free service
Overview of Electronic Check RecoveryWhat is RCK and how does it work?
One Company… One Call. ecap, a Solveras Company
Today’s Agenda, continued
Optional Secondary Collections
ecap’s 3-part reporting system
Clients
Advantages
How to Get Started
One Company… One Call. ecap, a Solveras Company
About ecap
ecap’s corporate office is located in the historic 1st National Bank building
in the heart of downtown St. Paul, Minnesota’s financial district.
The check processing center is located in Franklin, Tennessee.
One Company… One Call. ecap, a Solveras Company
ecap was founded in 1998 to address the new changes within the electronic banking services community.
ecap merged with Solveras Company in 2008, allowing ecap significant product offering, extremely competitive pricing and the additional support of an international leader in the financial services industry.
ecap originates millions of dollars in transactions every month
ecap is a member of and active in the Better Business Bureau (BBB), the American Collectors Association (ACA), and the
Upper Midwest Clearing House Association (UMACHA).
A Little More Background…
One Company… One Call. ecap, a Solveras Company
AccountabilityNow, more than ever, school district officials continue to remind us who
should be responsible for the costs associated with dishonored, returned checks…
The Check Writer.
These errant check writers can cost your district in staff time, material costs, postage, etc.
Give your staff back the time to focus attention on more important activities and eliminate potential confrontations with parents.
One Company… One Call. ecap, a Solveras Company
Advantages For Your District According to our clients, the #1 reason most districts enroll in our
free service is to RELIEVE STAFF to perform other more important tasks.
Electronic check recovery is a FREE service. Your district is never charged a fee or startup cost for recovering your checks.
Our service maintains a RESPECTFUL relationship with the check writer. We are never abrasive or embarrassing.
Our service returns the recovered funds to your account QUICKLY and EFFICIENTLY, crediting your bank account on a weekly basis via EFT Direct Deposit.
One Company… One Call. ecap, a Solveras Company
Advantages For Your District You receive 100% of the face value of every recovered check,
PLUS a rebate on electronically recovered checks.
There is no check volume requirements – we help both LARGE and SMALL districts.
Comprehensive, secure online reporting system that providesconvenient, accurate, and total accountability for every check in the system, plus ability to view an image of the front and back of your checks. (We will demonstrate)
One Company… One Call. ecap, a Solveras Company
What is RCK?
RCK is the electronic re-presentment of dishonored checks.
RCK uses the automated clearing house (ACH) to debit the accounts of those who write bad checks.
RCK helps shift the advantage away from the bad check writer and gives that advantage to the school district.
RCK recovers MORE funds than most other methods and does it QUICKLY and EFFICIENTLY.
RCK is FREE for your district, simplifying the budget approval process.
One Company… One Call. ecap, a Solveras Company
ecap’s Automated Process1. Bad checks are seamlessly redirected from your bank to our
settlement account.
2. Our processing center receives the check and uploads it into the ACH system. A Daily Notification Report is sent to you via email.
3. Bad checks are electronically presented to the check writer’s account on “smart dates”… pay days.
4. Face amount of the check is re-presented electronically and a fee (state allowed) is presented in draft form.
5. Recovered funds and rebate are paid electronically (EFT) each Friday On the same date a Reimbursement Report is sent via email.
One Company… One Call. ecap, a Solveras Company
Secondary Collections For non-NSF checks (stop payment, closed account, etc.)
There is never a charge to your district!
Letter campaign is started with up to two letters.
Skip Tracing if required. Telephone campaign is started.
Attorney assisted recovery work commences.
Check writer’s fees vary depending on the where state the check was written, as well as the effort required to collect the item.
Training insures great results through ethical and honest collection practices that adhere to strict collection guidelines.
One Company… One Call. ecap, a Solveras Company
Secondary Collections - FAQs Question: What checks are collected by secondary collections?
Answer: All non-NSF checks (closed account, stop payment, forgery, etc.) and NSF checks not recovered after two re-submittals.
Question: What happens to the checks when a school district opts to NOT use secondary collections?
Answer: The check arrives at ecap’s processing center and is scanned as normal, reported via the Daily Notification Report and online. If a non-NSF check, it is immediately returned to you. If an NSF check, it is returned if attempts to recover the funds electronically prove unsuccessful.
One Company… One Call. ecap, a Solveras Company
Secondary Collections - FAQs
Question: Will this create additional work for school staff?
Answer: If you choose NOT to use our secondary collection service, uncollected checks will be returned to the district, which
means additional work for your staff.
Questions: Will we receive parent complaints?
Answer: Most schools report no noticeable additional complaints when using secondary collections.
One Company… One Call. ecap, a Solveras Company
Reports and Accountability
ecap’s THREE PART reporting system provides convenient and total accountability.
“Store Notification Report” via email (show example)
“Reimbursement Report” via email (show example)
Online Electronic Reporting System (ERS) (show demo)
One Company… One Call. ecap, a Solveras Company
Clients - more than 5000 locationsPublic School Districts - ecap with it’s affiliates provides payment processing for over 500 school districts across the nation (over 450 districts use PaySchools and over 80 districts use check recovery)
Municipalities
Utilities
State & Local Government Offices
Retail Merchants
One Company… One Call. ecap, a Solveras Company
Our recovery process has among the highest check reimbursement rate in the industry, often exceeding 90%!
Reduce confrontation with check writers. There is no need to chase down parents.
Reduce the use of certified letters by enrolling in optional secondary collection service.
Our service can be customized for your particular needs.
If you are not satisfied our service can be cancelled at any time for any reason.
The ecap Advantage
One Company… One Call. ecap, a Solveras Company
How To Get StartedWhen your school district is ready to enroll
simply complete three forms:
1. Terms & Conditions (1 per district)
2. Merchant Application & Agreement (1 per bank account)
3. Return Items Authorization (1 per bank account)
Download forms plus an example at www.richblair.com/quick.html
One Company… One Call. ecap, a Solveras Company
Where To Send Enrollment Forms
First, fax all forms to Rich Blair at 619-682-1056
Next, mail originals along with a voided check to
Blair Consulting Services
7719 Edmonston Cir
Bradenton, FL 34201
One Company… One Call. ecap, a Solveras Company
What Happens Next After enrollment we help you understand the best methods for notifying
parents of your new check collection policy.
We schedule and host training for your staff.
You receive a Welcome Packet, along with access to your personal and secure online reporting system
We notify your bank so bad checks will be routed to ecap. You can also mail on-hand checks to ecap.
You can take comfort knowing there is no long term time clause – if you are not fully satisfied for any reason, you may cancel the
service at any time.
One Company… One Call. ecap, a Solveras Company
In closing we invite you to… Relieve your staff from an unpleasant task, enabling them to focus
on more productive activities.
Outsource a task that currently consumes district resources, allowing ecap to contribute resources to your district.
Join the ranks of over 80 districts that are enjoying the benefits of our free check recovery service.
Reminder to bookmark web page www.richblair.com/quick.html
where you can download this PowerPoint presentation.