Copyright © 2005 EFT Network, Inc. All Rights Reserved.

Centralized Returns

Significantly Reduce or even Eliminate Returned Check Fees

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Returned Checks Fees Increasing bank service fees for NSF checks NSF fees are rising steadily at 4.5%, costing on average

between $21.00 - $24.75 per check

Delayed NSF Check Notification Average time is 7-10 business days before you know that

the check bounced. Versus 3-5 business days with EFT

Business Challenges

Benefits guarantee companies, checks returned faster As a sales tool for reselling As part of a front-end RCK System for potential clients Eliminates low dollar clearing

Business Opportunities

Source: Bankrate Monitor Sept. 28, 2001

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Centralized Returns

Centralized Returns enables companies with multiple bankingrelationships to easily consolidate unpaid and returned checks at a singlebank. Our Centralized Return System channels returned checks into aseamless process which can significantly reduce or even eliminatereturned check fees.

Centralizes returned checks with a customized endorsement stamp

Customized verbiage for the endorsement stamp, or by working with a merchant’s data processing department or software vendor to help create the proper endorsement via their point-of-sale equipment

Full data capturing, customized reporting, next day online reporting of returned data, and check images that can reduce the risk of your business to accept returned checks

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Special Endorsement Stamp Instructs check writers and/or merchants bank to return all dishonored checks to a third bank

Our bank will provide check imaging and a MICR file the same day checks are received

EFT Network Advantage

The merchant’s bank does not charge NSF Fees to the merchant for the bounced checks

Merchants can have access to check images and return reports on-line

Streamline Process

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Key Features

Develop immediate savings and reductions in NSF bank fees/charges

Improve your overall collections and payment efficiency

Customized endorsement stamp, containing verbiage necessary to re-direct NSF checks to EFT Network

Built-in ability to electronically re-presentment NSF checks

Applicable to any type of deposited check

Actual NSF checks can be returned via US Mail or overnight courier

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Technology Behind Centralized Returns

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Step-by-Step

The Consumer presents a completed checkto the Merchant, who stamps the CentralizedReturn stamp on the back of the checkauthorizing the ACH transaction.

 

1.1.

Merchants Bank

Merchant deposits check into his bankaccount. 

2.2.

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NSF

Step-by-Step

Consumers BankMerchants Bank

Merchant bank sends the check to thecheck writer’s bank for payment. Checkis dishonored at the check writer’sbank. Check writers bank redirectchecks to Centralized Returns Bank.

 

3.3.

 Centralized

Returns Bank

Return check items are imaged andposted on our web. Paper checks arethen sent to you a few days later. 

4.4.

NSF

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EFT Software

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Go to your browser and access the web-site

Log onto www.redeposit.com

Select Customer Login on the left navigation

Web Browser

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Customer Login

Enter your customer information all

in uppercase letters.- File Code- User Name- Password

Select OK

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Welcome Page

Here you can access:

- Transaction cut-off times- Notification of results status- Customer Survey & Daily

Messages

Select Centralized Returns on the left hand screen to get started

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Main Menu

Company Name and Number of Items Returned – Total number of returns

Daily Returns (Combined) – summary of daily returns within a given date

Search Centralized Returns – look-up for centralized return by account number and routing number

View Images – check image feature for all returns

Reports Detail Reports Summary Report Mismatch Moves Report

Main Menu – return to the system main menu

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View front and back of check image

Verify check number

Confirm check amount and date

View Images Online

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Routing Number Account Number Check Number Sequence Number Stamp Number Location Number Start Date End Date

Search Centralized Returns

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Complimentary use of our software without the need to purchase additional equipment

24/7 access to images of NSF checks available via our secure website

Maintain your existing banking relationship

User-friendly interface, requiring only internet access

Clear returned checks faster

Save on NSF banking fees or re-depositing costs

Transactions easily re-submitted for payment

Seamlessly upload detailed paid data file to your Accounts Receivable program

 

Benefits for, You

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Centralized Returns provides:

Improve your overall collections and payment efficiency

Customized endorsement stamp, containing verbiage necessary to re-direct NSF checks to EFT Network

Built-in ability to electronically re-presentment NSF checks

24/7 access to images of NSF checks available via our secure website

User-friendly interface, requiring only internet access

Seamlessly upload detailed paid data file to your Accounts Receivable program

Conclusion

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1817

EFT Network, Inc. is Committed to Providing

Superior, Affordable, ACH and Check Processing

Solutions

1918

EFT Network, Inc.245 Saw Mill River Road

Hawthorn, NY 10532Tel: 914.747.3222Fax 914.747.7218

www.redeposit.com

Contact:Alex Bacon, Vice President of Sales & Marketing

E-mail: sales@redeposit.com

Getting Started