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Collecting on returned checks can be one of the most time-consuming and arduous tasks of any business. With collection services from Complete Payment Recovery Services, Inc. (CPRS), merchants benefit from seamless and effective solutions to combat the high cost of back-end check collections.

Using electronic re-presentment and collection letters, as well as inbound and outbound telephone calling, our collection experts give special attention to individual collection issues, seven days a week. With the help of sophisticated skip-tracing techniques and other technology, we also can dramatically improve collection rates for reduced losses and improved bottom-line results.

CPRS Highlights

CPRS offers a full suite of returned-check management services that can be customized and packaged to address all your collection needs.

  • Electronic Re-presentment/RCK – CPRS electronically re-presents consumer checks to the check writer’s bank. With RCK, you have the option to re-present checks at times when money is most likely to be in the check writer’s account – such as the first and 15th of the month when most payroll check deposits are made. It’s fast, flexible and seamless.
  • Returned Check Concentration (RCC) – After deposit, returned checks are routed to a consolidated bank, resulting in substantial savings in bank fees, as well as improved and simplified bank reconciliation. Just frank the back of the check with CPRS’ consolidated bank routing information, and deposit the check as usual.
  • Data Entry and Image Capture – CPRS uses automated ZIP code and area code databases, ensuring complete accuracy. Each check is audited and imaged, enabling you to view each check through our convenient, Web-based reporting system.
  • Service Fee Recovery – We provide you with four ways to collect returned-check fees, providing you with an additional revenue stream:
    • Service fee letter
    • Service fee letter and phone calls
    • Service fee drafting
    • ACH of service fee
  • Electronic Skip Tracing – Using an automated system of multiple national databases, we are able to track down bad-check writers much more quickly, leading to better and greater collections.
  • Electronic Data Exchange – Each night, CPRS provides you with an electronic file of all checks received or paid during that day, giving you the useful and timely information needed to make financial decisions.
  • Web-based Reporting – Rely on CPRS for more than 300 kinds of reports for accounting, finance and loss prevention – all of which can be delivered by Internet, e-mail, FTP or hard copy.
  • Credit File Reporting – Even if collections prove unsuccessful, any uncollected items can be placed in the check writer’s credit file for seven years, meaning we can improve your odds of long-term collection from customers wishing to clear up issues on their credit reports.
  • Traditional Collections – With CPRS, there are no collection delays, either for RCK-ineligible checks or those items that do not clear through the RCK process. We quickly send letters make phone calls and implement skip tracing when a check writer cannot be located immediately.
  • Secondary Collections – Uncollected checks can be electronically transmitted (through legal channels) for faster and more effective collections.
  • Debtor Information Added to Certegy® Negative File – Every check will remain in Certegy’s negative file until paid or until the check no longer resides with Certegy. Certegy’s negative file is used by more than 70 of the nation’s top 100 retailers.
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