How Does Re$ubmitIt® Work?
The Re$ubmitIt® electronic check recovery service handles the
collection process electronically from beginning to
end, via the Automated Clearing House (ACH) network for
re-presentment directly to the check writer’s bank account.
Returned checks are sent from First Northern Bank & Trust to Re$ubmitIt®, where eligible checks are converted into electronic items for re-presentment to the check writer’s bank account for collection.
The electronic check file is processed and strategically timed for re-presentation. Presenting checks at proven “smart dates” improves the chance of collection.
If the item is not recovered on the first electronic re-presentment, it is re-cued for a second electronic re-presentment (third total). If this third presentment fails, the check can be sent to Re$ubmitIt’s FREE secondary collections, or the check can be sent back to you.
Upon settlement, 100% of the face value of the check is reimbursed to you automatically. The check writer’s account is charged a state-regulated collection fee to cover the cost of collection.
If you have questions about the Re$ubmitIt® electronic check recovery service, please email them at [email protected]
To be Eligible for Electronic Recovery, a Returned Check Must:
Be a personal check to a business (not business-to-business)
Be under $2,500
Be less than 180 days old from date of transaction
Cannot have been already submitted twice, either electronically or by paper draft
What Happens to Ineligible Checks?
Returned items that are less than $2,500 and ineligible for electronic re-presentment are re-submitted to the check writer’s account as a paper draft, sub-ject to eligibility requirements. Items greater than $2,500, are returned to the business.