Orrstown Bank is here to help you with all of your business needs,
including one of your biggest headaches – returned checks. Orrstown
Bank’s electronic check recovery service, Re$ubmitIt® significantly
reduces the burden of collecting funds from NSF checks, while
potentially doubling your recovery rate. You collect more returned
checks and get 100% of the face value of all checks that are collected
How Does Re$ubmitIt Work?
The Re$ubmitIt electronic check recovery service handles the
collection process electronically, via the Automated Clearing House
(ACH) network for re-presentment directly to the check writer’s bank
- Returned checks are sent from Orrstown Bank to
Re$ubmitIt, where eligible checks are converted into electronic items
for re-presentment to the check writer’s bank account for collection.
- The electronic check file is processed and strategically
timed for re-presentation. Presenting checks at proven "smart dates"
improves the chance of collection.
- If the item is not recovered on the first electronic
re-presentment, it is re-cued for a second electronic re-presentment
(third total). If this third presentment fails, the check can be sent
to Re$ubmitIt’s FREE secondary collections, or sent back to you.
- Upon settlement, 100% of the face value of the check is
reimbursed to you automatically. The check writer’s account is charged a
state-regulated collection fee to cover the cost of collection.
If you have questions about the Re$ubmitIt electronic check recovery service, please email them at email@example.com.
To be eligible for Electronic Recovery, a returned check must:
- Be a personal check to a business (not business-to-business)
- Be under $2,500
- Be less than 180 days old from date of transaction
- Cannot have already been submitted twice, either electronically or by paper draft
What Happens to Ineligible Checks?
Returned items that are less than $2,500 and ineligible for
electronic re-presentment are resubmitted to the check writer’s account
as a paper draft, subject to eligibility requirements. Items greater
than $2,500, are returned to the business.