Business_Cash Management Sweep

Xpress Redeposit

  • Xpress Redeposit is a FREE service provided by Complete Payment Recovery Service that aids in the collection of returned checks.

    Benefits of Xpress Redeposit:
    • There is no equipment to buy
    • No set up charges to enroll
    • Ability to track the status of returned checks from your computer
    • 100 percent of recovered funds are automatically deposited to your account weekly
    • Once a check has been returned as a NSF, Xpress Redeposit takes over the re-presentment and collections process instead of the check being returned to you for collection
    • NSF checks are strategically re-presented electronically to the customer’s bank account
    How does Xpress Redeposit Work?
    • You accept your customer’s check
    • The check is returned as a NSF
    • Xpress Redeposit is enlisted to aid in the re-presentment and collections process
    • Xpress Redeposit converts the paper check to an electronic transaction and re-submits to the customer’s bank account for payment
    • Xpress Redeposit uses smart technology to maximize clearance and re-submit if necessary
    • 100 percent of recovered funds are automatically deposited into your account weekly

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