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 Checking Around for Another Option?

 

If you're not happy selling check guarantee or collection services, you may want to check out Automated Payment Services, Inc. (APSI). APSI is a part of National Bank Drafting Systems (NBDS), a bank drafting organization and they offer Electronic Return Check Recovery through Electronic Check Conversion. The merchant receives the face amount of the check and the check writer pays the fee ($20-$30) via direct debit through the ACH network.

 

Merchant Benefits

 

The specific program is called Check Collect™ and since the customer who bounced the check takes responsibility for the cost of collections, the merchant receives 100% of their original money. Other benefits to the merchant include:

• The check writer does not have to be motivated to go somewhere to pay a bill, the process is all done electronically.
• Collections are processed on any bank in the Federal Reserve System in the United States in 24 hours.
• All collected checks are paid weekly.
• No long-term contract
• The program is available to all businesses regardless of type of business or where located
• Customer's bank is notified of the ACH transaction, and is added to his or her statement.
• No sign-up fee, annual fee, statement fee, or report fee.
• No limit on number of checks or dollar amount of checks.
• No monthly minimum.

 

What's In It For the ISO?

 

That's great, you say, but what's in it for me?

Well, independent reps receive a percentage of all net fees collected (Commission Reports are generated monthly and commission checks are mailed by the 20th of the month for the month prior.) No account maintenance is required because once a merchant is on the Check Collect program, APSI headquarters handles the account. APSI provides original forms and information sheets and the representative runs copies at his or her expense. Merchant materials, including door labels, POS labels, and rubber stamps are free. Finally, representatives operate as independent contractors and as such are responsible for paying their own taxes and expenses.

If this sounds like an opportunity for you, here's how to find out more:

1. Go to http://www.apsi.com. and complete the personal information form and submit it online AND
2. Print out the Independent Sales Representative application form from the Web site and mail it to. APSI, 5301 Bellefield Dr. Tampa, FL 33624. (APSI must have the original signature.)

Or, if you prefer the old fashioned way, call (813) 960-5958.

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