A method of re-depositing checks from accounts listed as having insufficient funds repeatedly until the time when funds are made available. A bad check is held by the depositor and the bank account of the account holder is tracked to detect when funds are available. When the amount of funds necessary to clear the check becomes available, the amount of the check is removed from the account. This method is used to protect the interests of both consumers and retailers. Consumers will be protected from incurring insufficient funds changes and protects the retailers by allowing them to collect the total amount of funds for a purchase when the consumer already has the merchandise in their possession.
Related information about check representment:
- Check Representment Definition | Investopedia
A system wherein a check that bounced or did not clear when it was first presented because the account on which it was written had insufficient funds, ...
- Check Representment - Financial Dictionary - The Free Dictionary
A process in which a check is deposited as many times as is necessary in order for it to clear. That is, if a check does not have sufficient funds in the account to ...
- InfoMerchant - Check RePresentment -(Merchant Account Services)
Check representment is an automated, consumer friendly, electronic process to collect returned checks. For the merchant, the check acceptance process at the ...
- What is check representment? definition and meaning
Definition of check representment: A method of re-depositing checks from accounts listed as having insufficient funds repeatedly until the time when funds are ...
- Check Representment: Definition from Answers.com
Check Representment A method whereby checks from accounts with insufficient funds are repeatedly deposited until funds are available.
- Electronic Check Representment - Recover NSF Checks
RCK is the changing of a paper NSF check into an electronic check and processing it through the Automated Clearing House (ACH) to collect on the check ...
- Raven RCK Check Recovery & NSF Check Representment
Raven RCK Check Recovery & NSF Check Representment Using a TellerScan ( TS) 350 Check Scanner supplied by DeepCove Labs and the Raven Check ...
- Check Representment - CPR Systems
RCK (Check Representment ) is the conversion of a non-sufficient funds (NSF) check to an Electronic Funds Transfer (EFT). Not only can you collect the face ...