
Electronic
Collection of Returned Deposit Items
Capture a leadership
position within the business community by
offering an innovative, effective and FREE
service that increases profitability for
accountholders and you!
With the Re$ubmitIt®
program, your commercial accountholders
can double collections from returned deposit
items, including checks, ACH check conversions
and ACH originations. Your institution increases
income through a unique revenue sharing
agreement with BSG Financial, while outsourcing
the hassle of processing the
returned items. Plus, because your commercial
accountholders pay nothing for the service,
you will be viewed as a valuable, innovative
partner to their business.
How
it works. Re$ubmitIt® is a new,
better solution for returned deposit item
collections, with proven success
in capturing 100%
of the face value of all items collected
electronically. When a returned
deposit item is debited to a business account,
your institution sends it to Re$ubmitIt®
where it is re-presented electronically
— up to two additional times. As a
result of multiple submissions and strategic
timing, your accountholders will collect
more from returned items, with less work.
On average, 75–80%
of all items processed through the Re$ubmitIt®
program are collected in full —
a significant increase over the traditional
40–50%. To further increase success,
we also offer FREE secondary collections
for those checks that go uncollected after
the maximum number of electronic re-submissions.
The Re$ubmitIt® process
is being used by over 15,000 businesses
that can now concentrate on profit-making
opportunities rather than collections. And,
with our comprehensive Web-based reporting
system, you and your accountholders can
view check images, obtain status reports
that include detailed information for each
check, track payments, and measure results.
Reduce costs.
Increase revenues. Re$ubmitIt®
is a turnkey solution to bad check collection
for you and your business accountholder
—
| Financial
Institution: |
| • Incurs
minimal marketing costs —
BSG Financial assists institution
with introducing the program to
business accounts. |
| • Increases
income through revenue-sharing agreement
with BSG Financial. |
| • Decreases
administrative costs and hassle
of processing bad checks. |
| • Becomes
market leader and is viewed as a
valuable business resource. |
|
|
| Business
Accountholder: |
| • Pays
nothing — no set-up fee; no
equipment to buy; can cancel any
time. |
| • Spends
less time on collections, more on
customers. |
| • Significantly
increases collections, with less
effort. |
| • Can start
immediately — instructions
and notification materials provided. |
|
|