Electronic Check Recovery Programs Comparison
 
Items marked in RED are benefits over the other program.
Electronic Check Recovery 2000™ (ECR2000) 
CHECK COLLECT™ 
Electronically submits NSF/ISF checks that are returned by your bank. 
Electronically submits NSF/ISF checks that are returned by your bank. 

When the check items are received by our processing center, they are digitally imaged and immediately presented electronically (2nd presentment) for clearing via the ACH (to maximize the likelihood of funds recovery from a timeliness standpoint).

If funds are not available the second time, the account is checked for funds via our automated system. If the funds become available, the funds are collected, along with the state-allowed service fee.
When a 3rd presentment is necessary, ECHO/XpressCheX will attempt to minimize the likelihood of a 3rd return by timing the 3rd presentment of an item to hit the consumer’s account on the following 1st or 16th day of the month.
If the item is returned again, our processing center calls your customer’s bank to verify funds before a third and final attempt to collect.
Using your merchant password and ID, check your transaction reports online, 24 hours per day
Using your merchant password and ID, check your transaction reports by fax 24 hours per day. The Fax is updated once a week on Friday.  Check Collect now offers online reporting.
Any check that does not clear within 60 days of traditional collections is reported to the three major Credit Bureaus or can be returned to the merchant at their request for a small fee.
Any check that does not clear within 60 days is returned to the merchant, or sent to Howell & McClinton, PC for traditional collection.
ECR starts traditional collections after it is apparent that RCK (ACH) collections will not be effective.
ECR has been collecting traditionally for several years for a major  pharmaceutical  retailer.
ECR utilizes phone calling & letter writing.
ECR utilizes customized collections software that "Smart" dials for more effective results.
ECR has professionally trained, routinely tested, commissions earning collections staff.
Check Collect starts traditional collections after 60 days time frame.
 
 
Check Collect utilizes letter writing.
 
Check Collect uses a lawyer’s office.

The Merchant receives 100% of the face value of each check collected, whether by Electronic Check Recovery or XpressPayments traditional collection, paid twice monthly.

The Merchant 100% of the face value of each check collected electronically and 60% of all funds collected by Howell & McClinton, PC, paid weekly.
The RCK recovery rate is, on average, about 70%.  Traditional recovery captures about another 5 to 10%.
RCK recovery rate of 70%. Traditional recovery rate is unknown.
Merchant will qualify to receive a rebate in the amount of 20% of the qualifying collection fee (not limited to $5.00) only when the following conditions are met:

  • Merchant’s bank is forwarding returned items directly to our processing center.

  • The full amount of both the collection item and the collection fee are recovered via ECR.

  • The collection fee transaction is not returned or otherwise charged back by the consumer or the consumer’s bank.

  • The amount of that collection fee is greater than $15.00.

Merchant will qualify to receive a rebate in the amount of 20% of the qualifying collection fee (limited to $5.00) only when the following conditions are met: 
  • The full amount of both the collection item and the collection fee are recovered via ECR.  
  • The collection fee transaction is not returned or otherwise charged back by the consumer or the consumer’s bank. 
  • The amount of that collection fee is $ 25.00  or greater.
Free online, real time reporting is available 24-7 or the merchant may request hard copy reports as well. The first rebate of each month is retained to cover administration cost.
Free account summaries are e-mailed weekly and available by fax 24 hours per day. The Fax is updated once a week on Friday. The first rebate of each month is retained to cover administration cost. Online reporting Now Available.
ECR Merchant Services offers 24 hour a day support through a 1-800 number that is provided to the merchant in their Welcome Packet.  They may also be reached by instant message via the merchant online reporting “Send Message” and “Direct Pay” options.
Check Collect Merchant service is open M- F 9-5
No limit on number of checks.
No limit on number of checks.
No long-term contracts to sign 
No long-term contracts to sign 
Eliminates high cost of guarantee services 
Eliminates high cost of guarantee services 
No special equipment needed 
No special equipment needed 
Checks are processed from any bank in the U.S. Federal Reserve Banking System 
Checks are processed from any bank in the U.S. Federal Reserve Banking System 
All collected checks are paid to the merchant twice monthly, on the 1st and the 16th
All collected checks are paid to you weekly. 
Out-of-town checks are handled as easily as local checks 
Out-of-town checks are handled as easily as local checks 
Works for any business, anywhere that accepts checks for payment
Works for any business, anywhere that accepts checks for payment
ECR does not offer 50/50 recovery on already returned checks. Check Collect offers a 50/50 recovery on already returned checks.
Should I promote ECR and stop Check Collect?
Consider the needs of your prospective client and utilize the service that will work best for them.
Note: If Merchant has bounced checks already, Best solution is sign with Check Collect and get the 50/50 recovery on those items then after 30 days may revoke Check Collect and go with ECR. 

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