returned check


Also found in: Financial, Acronyms.
See: bad check
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According to a Federal Reserve source, "One billion dollars in returned checks for 1990 is a very real possibility.
Michael Long, CEO, said, "The combined transactions processed in October and November have nearly doubled the volume processed in the whole third quarter of 2011 and returned check processing was 72% in the same period.
This reduces the costs associated with returned checks and reduces the number of expensive service cutoffs and reconnects.
Under the old check return procedures, most returned checks would not have been received by the institution of first deposit by the time the act requires that funds be made available for withdrawal under the temporary schedule.
A returned check [could break a relationship with the provider of a regular service, like a day care or a landlord," Oldag said.
Businesses are clearly missing out on the opportunity to reduce costs of returned checks and ensuring no embarrassment to their customers, since the electronic process is all done behind the scenes without any personnel contact.
As technology has advanced, SECU has taken the opportunity to expand the true overdraft program in order to further minimize traditional returned check charges and to serve members with alternative checking needs.
The division helps public school nutrition and lunch programs reclaim bad debt through its automated returned check collection (RCK) services.
Postal Service, which charges $35 for a returned check, and is as high as the Wall Street bank's overdraft fees.
SPS offers ACH processing, Returned Check processing, credit card merchant accounts, and check conversion.
The retail merchant survey found that the average Merchant NSF charge for a returned check was $27.
the industry leader in profit recovery, and transmodus, a technology leader in on-demand automation of returned check collections, announced today that they have entered into an agreement wherein Transworld will offer transmodus check recovery solutions as a part of their comprehensive service line that includes the well-known GreenFlag(SM) Profit Recovery service.