My returned checks are being sent to Re$ubmitIt. How did I enroll in this service and how does it work?
What percent of the face amount of my returned checks will I receive? How will I be reimbursed and how often?
You will receive 100% of the face amount of your check. You are reimbursed as a deposit to your Old Point account as soon as we receive settled funds for an item, which can occur as often as daily or weekly.
How do I track the status of my returned checks? How do I get a user name and password?
Old Point's on-line banking system does not track returned checks sent to Re$ubmitIt. Instead, you’ll need to go to Old Point’s website, click on the Re$ubmitIt icon, and enter your Re$ubmitIt user name and password where prompted to log on to the Re$ubmitIt on-line reporting system. However, in order to receive a user name and password, you will need to complete and return to us the contact form sent to you by Re$ubmitIt. You can also elect to receive reports by email when we receive a returned item from your bank and when we have reimbursed your account for an item we have collected.
What happens to a check if it cannot be recovered?
All uncollected checks will be returned to you unless you have elected to take advantage of our free secondary collections service (explained below) by indicating this choice on the contact form you returned to us
What does the secondary collections process involve?
In the event that re-presentment attempts have been exhausted or the returned item could not be legally re-presented (i.e., for Stopped Payment, Closed Account, etc.), we will forward the check writer’s account information to a third-party secondary collections service. The collections agency will attempt to solicit payment for the item through letters and phone calls, including reporting to credit bureaus. When payment is received through secondary collection efforts, your account will be reimbursed for 100% of the face value of the check.
Can I send my uncollectible checks to secondary collections on a case-by-case basis?
No. When you elect to participate in the secondary collections service, you agree that all uncollected items will be subject to secondary collection attempts.
Does Re$ubmitIt recover the fees my bank charges for returned checks?
Re$ubmitIt attempts to recover only the face amount of the check for you. At a collection rate of 70 percent or greater, many businesses find the time and resources they save by not having to recover returned checks on their own far outweighs the cost of any bank fees.
What type of fee is the check writer charged? Is the check writer charged this fee each time the check is re-presented?
The check writer is charged a state-regulated collection fee for a returned check. This fee is only charged to the check writer once per NSF check.
Can I collect a returned check fee from the check writer?
Because Re$ubmitIt processes returned checks on your behalf and charges the check writer the state-regulated collection fee, you cannot also legally charge the check writer a fee. Please keep in mind that the fee we collect from the check writer allows this service to be completely free to you, and also pays for the free secondary collections service we offer.
Once I receive my debit notice, how long will it be before Re$ubmitIt receives the check? How long will it take to process?
Re$ubmitIt should receive the check within a couple of days after you receive a debit notice from your bank. Each re-presentment takes approximately 7 business days for a personal check and 12 business days for a business check.
I do not have a retail "point of sale." How can I notify check writers of the check policy?
If you do not have a retail "point of sale" at which to display the Re$ubmitIt check policy sticker, you will need to notify check writers of the check policy on work orders, estimates or invoices, or by whatever means you use to bill customers or accept orders. If you do not invoice customers, please distribute a check policy notice in advance or at the time of payment for your goods or services. Check policy notices should include the same language stated on the Re$ubmitIt sticker. Please email us at email@example.com to request an electronic copy of the check policy for printing notices.
The Re$ubmitIt brochure states you cannot electronically process a returned check from a business.
Re$ubmitIt is able to process returned business checks that are less than $2,500 by paper draft.
The check writer has paid me directly. Can I stop this check from being processed?
Please call us to determine the re-presentment status before accepting payment, as we are automatically attempting to collect your returned checks on your behalf and you do not want your customer to possibly pay twice.
Email us at firstname.lastname@example.org, or call a customer service representative at 866.860.5906, Monday–Friday, 8:30 am to 5 pm EST.