January 25th, 2008 - Barry Godofsky, President of AMS, Inc. (www.merchantservices-help.com) has announced a free value-added merchant service for AMS customers in collabortion with EZCheck Inc. of Houston, TX: EZCOLLECT Electronic Check Collections services, a free NSF check collection service for small businesses and medical practices. For a limited time, AMS is extending this free service courtesy to West Boca Raton Chamber of Commerce members as well.
By utilizing free EZCollect check collection services, merchants can forward (or have their banks forward) returned checks to EZ Check for free electronic collections on Non Sufficient Funds (NSF) items. Any checks that clear are reimbursed to the merchant for full face value. EZCheck also attempts to electroncially collect the maximum state allowed consumer returned check fee.
Benefits:
- No special equipment to buy, lease , or program
- No rates
- No fees
- No monthly minimums
- No authorization hassles
- A cost effective alternative to costly and complicated Check Guarantee Services
Frequently Asked Questions:
Is any equipment required, such as check readers, scanners, etc.?
No. No equipment or authorization is involved. The merchant accepts
checks however they wish in their business. They send their returned items to EZCheck for electronic collection.
What are the fees to the merchant?
Unlike Check Guarantee services, there are no fees, sign-up costs, or monthly minimums.
What returned checks are elligible for this service?
Non-Sufficient Funds (NSF) checks only. Checks returned for any other reason are not eligible for EZCollect per banking regulations. If the merchant desires to send other types of returned checks for collection, Account Closed for example, EZCheck will accept these checks and work them as regular collection items. If EZCheck collects those items, the merchant is reimbursed 65% of face value.
When and how do merchants get paid?
Collected checks are paid monthly via ACH.
What happens after the merchant signs up for this service?
The merchant receives a welcome kit with their merchant ID, POS stickers, and instructions. There is no file to build or equipment to download.
Why should a merchant use a collection service instead of just collecting NSF checks in-house?
Customer retention is the first priority. When merchants have to contact customers about NSF issues, often the embarrasment factor ends the customer relationship. By letting someone else be the "mean bill collector", merchants win both the battle and the war by getting paid and keeping their customer.
How can AMS and EZCheck offer this service for free?
The service is free to the merchant. The customer pays the state allowed
consumer returned item fee which is retained by AMS/EZCheck.
Automated Merchant Solutions is a member of the West Boca Raton Chamber of Commerce and is located in Boynton Beach, FL They are a leading provider of electronic payment solutions and merchant services throughout Florida and the entire southeast USA. Please contact Barry Godofsky at (561) 736-1557, toll-free at 1-877-689-1691, by email at amspcs@juno.com, or visit their website www.merchantservices-help.com.