News and Information from AccelCheck

According to the American Collectors Association, Americans write about 1.7 million bad checks each day totaling more than $50 million in bad check losses. This is the largest figure world wide and it is growing daily.

 

According to the National Check Fraud Center, check fraud and counterfeiting are the largest and fastest growing problem that the United States financial system now faces. The estimated losses produced annually are over $10 billion and is expected to rise substantially over the coming years.

 

 

Cash in on the benefits

Electronic Check Services can mean significant savings for your business by helping you avoid the costs and hassles of returned checks.

  • Check Conversion helps speed up check clearing and makes funds available faster to improve cash flow. It also eliminates adding and bundling checks to take to your local branch for deposit.
  • Check Verification has been proven to cut by approximately one-third the number of checks returned for non-sufficient funds.
  • 3rd Party Check Collection saves you time and money associated with collecting returned checks by using a 3rd party collection agency.

Simple steps you can take to avoid accepting bad checks