Greer State Bank’s electronic check recovery service, Re$ubmitIt®, significantly reduces the burden of collecting funds from NSF checks while potentially doubling your recovery rate. You collect more returned checks and get 100% of the face value of all checks that are collected electronically!
The Re$ubmitIt® electronic check recovery service handles the collection process electronically from beginning to end, via the Automated Clearing House (ACH) network for re-presentment directly to the check writer’s bank account.
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 been already 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 re-submitted to the check writer’s account as a paper draft, subject to eligibility requirements. Items greater than $2,500, are returned to the business.
If you have questions about the Re$ubmitIt® electronic check recovery service, please contact a Relationship Banker at (864) 877-2000 or email support at: firstname.lastname@example.org