We invite  you to review our services and see for yourself the many options we have available. I think you will be greatly impressed by the direction that we are going and with our continued commitment to providing our customers with high quality service.  - Rick Berg, President

Trac-A-Chec, Inc provides dynamic and powerful collection services to our clients.  We customize our services and reports to provide the most beneficial collection package for our clients.

Regular Collection Services

 

Traditional Collections:

We have the most dynamic collection software! This allows us to input, process, and report your returned checks in an efficient manner. 

• Your returned checks are sent to Trac-A-Chec, Inc for processing.
• We input the checks into our system the same day they are received.
• We run them through our RCK process if you are using this service.
• If they are not cleared at this step a notice is sent to the consumer.
• They are sent to our collection department where the consumers are contacted and/or skip traced.

Additional Benefits:

• We provide customized reports in a timely manner.
• Payments are made weekly.

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Electronic Funds Transfer (EFT)

This is an alternative payment method for consumers. Using traditional collection methods to contact a consumer, our collectors then offer them an option to pay for their bad checks and service fees using a "check over the phone." We get the consumers bank account information and a check number to apply to the payment.  We convert this into an electronic transaction and debit the consumers account.

        Additional Benefits:

• Faster and more reliable method of payment.
• A convenient payment option for consumers.
• More effective than the mail in process.

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Check Representment (RCK)

Electronic Representment converts returned checks into electronic transactions on the Automated Clearing House (ACH) network, which can be recovered in less time and at less cost than traditional collection methods. These transactions have a "first-in-line" status at banks, so they are processed faster.

          Additional Benefits:

• Recover 20% to 30% more of your returned checks.
• Recover money and receive payments faster.
• Avoid bank check re-deposit fees.
• Collect returned check fees from bad check writers.

How it works:

Your customers are notified by a sign posted at the point of sale that your returned checks are being collected electronically. Your bank sends us the checks after the first return.  We convert these into Electronic Funds Transactions.  The check writers' account is then debited for the amount of the check. 

There are two ways to handle the state collection fee:

Option 1: You stamp the check at the point of sale and have the consumer sign the back of the check approving the electronic collection of the service fee if the check is returned for non-sufficient funds.  This is a fast and free service.

Option 2: The service fee is turned into a paper draft and is sent to the check writers bank for collection. 

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Supplemental Services: These services are provided to enhance our regular collection practices and can greatly increase our effectiveness.

 

Legal Department

          We now have a full service legal department.

• This is an additional step we take to collect on your returned checks.

• We go the extra mile after RCK and traditional collections to pursue accounts all the way through garnishment.

• We utilize the latest legal technology for skip tracing (consumer locators), document processing and case management.

• We have our own database of legal accounts.

• We provide reliable, cost-effective legal collections.

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Centralized Returns

If your company processes numerous checks per month from several stores, we can offer the timesaving and money saving service of centralizing your returned checks. This is one of the more dynamic and efficient services we offer at Trac-A-Chec, Inc. 

	Consolidates your returned checks into one bank.
	Recover returned checks faster.
	Eliminate bad check processing fees.
	Update your negative check database sooner for more accurate verification.
	Improve check reporting and reconciliation with customized web reporting in a single statement.

How it works:

Checks spend a lot of time physically moving through the banking system delaying fraud information, decreasing chances for successful collection, and increasing bank fees. By processing your checks through a central bank, this eliminates many of the fees you incur at your depository bank and speeds the return of checks to our agency. You still deposit your checks to your local bank. They then send the returned checks to a central bank where they are processed through the Federal Reserve, put in the Centralized Return system, and sent on to us for collection.  We are able to input the checks the same day we receive them and inform you quickly of bad check writers.  You also have access to information and check images via the web.

Note:

This service is only beneficial and effective to companies that have multiple locations.

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Check Verification

A check verification system stops returned checks before they happen by verifying against a database of known bad check writers. Please note, that if you use point of sale or cash register equipment from RDS POS, our verification and POS software is programmed to work with this equipment, which can save you money.

• Up to 75% of returned checks can be prevented with verification.
• Shares up-to-date negative check writer data with companies throughout the nation.
• Contribute your known bad checks to the negative database to avoid loss.
• Check verification is completed in as little as 8 seconds.

There is a cost for equipment if you do not already have equipment compatible with our system as well as a fee per transaction.  However the transaction fees are waived for those clients who use our regular collections services as well as verification.

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 Check21 PLUS

This innovative new service can dramatically improve your check handling process.  The is a Back Office Conversion solution that significantly reduces your costs for check acceptance as well as your bank fees.  The system allows you to deposit your checks without ever leaving your business sight.

• Inexpensive. There is no special equipment to purchase. Processing checks electronically is less expensive than processing paper items.
• Better Investment.  Requires less of a one time investment than POS, POP or BOC.  Also less employee training is necessary to learn the process.
• Scaleable. The larger the volume of checks, the greater the savings.
• Faster. Quicker Returns for more efficient verification.
• Economical. Significant Savings on check processing and bank fees.

Click on the picture to view a power point presentation of our New Check21 PLUS solution.  If you don't have power point view, click on this link to download.        

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Point of Sale (POS) Processing

Turns a paper check into an electronic check at the point of sale using a check reader, check imager or your existing cash register. We offer two different types of point of sale processing: Check Imaging and Check Conversion. Please note, that if you use point of sale or cash register equipment from RDS POS, our verification and POS software is programmed to work with this equipment, which can save you money.

Check Imaging:

• At the point of sale the check is run through a check imager.
• This copies the face of a check along with the MICR data which includes the bank routing number and account information. 
• This initiates an electronic funds transfer.
• At the same time the check can also be verified through our negative files.
• A receipt is printed that the consumer signs to approve the electronic transaction.
• The receipt also authorizes us to collect the service fee through electronic means if the check is returned for non-sufficient funds.
• The check is stamped void and returned to the consumer.

Check Conversion:

• At the point of sale the check is run through the verification system.
• The check is then converted into an electronic transaction.
• Our client keeps the check and returns it to us for collections if the check is returned for non-sufficient funds.

Common Misconceptions:

One misconception is the belief that point of sale processing reduces the number of returned checks because it's faster than dealing with paper checks.  However, there is no distinguishable difference in the number of returned checks that are processed through regular transactions versus point of sale transactions.  Point of Sale processing can actually cost businesses more money than regular collections because of problems associated with collections of electronic checks.  It is difficult to collect on a check image through regular collection means if the check is returned for any reason.  The original check is needed in order to pursue collections through traditional and legal means. There are also additional costs associated with Point of Sale processing whereas our RCK, traditional and legal collection services are free.

 

We offer a competitive and excellent option for point of sale processing to our clients that want this type of processing. However, we believe our other collection processing, (RCK collections, Centralized Returns, traditional collections and our legal department) can, in most cases, meet the needs of clients better and with less expense than POS processing. 

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 Guarantee Service

          With our guarantee check service we pay you for the face value of qualifying returned checks.

• Checks are verified our database of negative files at the point of sale.

• They are processed through normal means.

• If they are returned they are sent to Trac-A-Chec, Inc.

• We send you the total face value of the checks returned.

• We bill you a percentage of the returned checks.

• You no longer have to worry about those returned checks.

Common Misconceptions:

One common misconception businesses make is that they will receive 100% of the face value of all returned checks.  However, with most agencies there are many restrictions associated with guarantee checks and only a percentage of the checks returned actually qualify for the program. The client is then charged for the checks that do not qualify. 

 

Another common misconception is that there are no charges associated with a businesses guarantee check program.  However, most places will charge a transaction fee for every check that goes through this process which means you pay for the good checks as well as the returned ones. Another method is to charge you a fee for all checks that do not qualify on top of charging you for the checks themselves.  In the end, you end up paying more than you gain with the guarantee program.

About Us:

• We offer a very competitive guarantee check program. 

• We do have some requirements and restrictions regarding the use of this programs

          and ours is one of the most beneficial programs in the industry from the perspective of the

          client.

• We recommend you check out our Free collection services before making a decision on a guarantee check program.

  • Our other free collection services can meet our clients needs much better than any guarantee service.

  • We provide excellent customer service and a high percentage of collections all at no cost to our client.  Click on our    to calculate the difference in cost between guarantee service and our rebate system of collections.

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