| | | | | checks effectively closes the door to a large segment |
| An NSF Check is a check that was returned to the | | | | of the buying public who will take their business |
| merchant because there was Non- Sufficient Funds, or | | | | elsewhere if their check is not accepted. |
| not enough money in the check writers account to | | | | |
| cover the check at the time that it cleared the | | | | Even when a check clears, there is a hard cost to |
| merchants Bank. A Hot Check is a check that was | | | | check acceptance. They must be verified, reconciled, |
| returned for non-sufficient funds, or for one of several | | | | physically deposited at your bank, and then processed |
| other possible reasons, including the checking account | | | | by the bank, which typically means several days will |
| being closed or if the check was fraudulent, forged, or | | | | pass until the funds are available. Most banks also |
| stolen. | | | | charge a per item deposit fee between $0.05-$0.25 |
| | | | | per check, and returned check fees to the merchant |
| Whether you are a Fortune 500 company or a start | | | | between $3.00 - $30.00 per Hot Check-talk about |
| up business, receiving a Hot Check/NSF Check is a | | | | getting hit twice! |
| frustrating, costly, and time-consuming situation. Besides | | | | The Solution: |
| negatively impacting your bottom line and hurting cash | | | | |
| flow, dealing with hot checks consumes valuable time | | | | Veritrans Merchant Services, a national leader in |
| and resources that could be better spent on growing | | | | electronic payment processing services, has the |
| your business. | | | | answer to your Hot Check or NSF Check headaches. |
| | | | | Since not all businesses are the same or have the |
| This situation can be so discouraging that many | | | | same needs, we can custom design a program that's |
| merchants have stopped accepting checks altogether. | | | | right for your business. |
| While solving the hot check problem, not accepting | | | | |