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.
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Returned checks are sent from First Northern Bank & Trust to Re$ubmitIt®, where eligible checks are converted into electronic items for re-presentment to the check writer’s bank account for collection.
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The electronic check file is processed and strategically timed for re-presentation. Presenting checks at proven “smart dates” improves the chance of collection.
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If the item is not recovered on the first electronic re-presentment, it is re-cued for a second electronic re-presentment (third total). If this third presentment fails, the check can be sent to Re$ubmitIt’s FREE secondary collections, or the check can be sent back to you.
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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:
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Be a personal check to a business (not business-to-business)
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Be under $2,500
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Be less than 180 days old from date of transaction
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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.