When you started your business, you probably thought long and hard about the payment methods that you wanted to offer. Every business offers debit and credit cards as payment options these days, but checks are a little more controversial. While you may not have issues with offering checks as a payment option, you should also be aware about the possibility that you will get a NSF – or not sufficient funds – on some of the checks that are provided by customers.
Recovering NSF Checks
The problem for business owners is how to handle those NSF checks. They want to continue offering the payment method because many customers are used to paying with checks. They do not always bring cash and many are not comfortable with having a debit card linked to their main bank account. That is why a business could genuinely lose customers if they were to eliminate personal or business checks as a payment method. But what is the solution?
NSF Collection Services
Using a check collection service is the best choice you could make. When you use a NSF check letter service, you are getting a valuable service and most collection companies require no initial no startup, monthly or annual fees. You do not even need to get any equipment to use this service. All you must do is report the checks online, and the company will handle everything else.
Receive the Full NSF Check Amount
These companies can get back 100 percent of the check amount from personal and business checks that are less than six months old, and have a value of $2500 or less. If you are frustrated by customers who are giving you checks without having the full amount in their bank account, and you do not want to spend valuable time and resources trying to get that money, use a NSF global check recovery service instead.