Pub. 4 2014-2015 Issue 1

O V E R A C E N T U R Y : B U I L D I N G B E T T E R B A N K S - H E L P I N G C O L O R A D A N S R E A L I Z E D R E A M S 20 D espitemuch attention given to the increas- ing use of electronic payment methods, checks still carry significant weight in payments and a big income opportunity for small businesses. The drawback is that there have always been risks for merchants to accept check payments, namely that the check will be returned due to NSF, and the income will go uncollected. Community banks can provide a critical service to business customers. Many banks have added an electronic check recovery (ECR) solution to their mix of commercial product offerings as a means to: - Deepen small business relationships - Generate fee-based revenue - Differentiate themselves in the marketplace - Acquire new customers Problem Meets Solution Since 2005, community banks across the country have implemented electronic check recovery solutions to address an obvious business problem: collecting funds from NSF checks and other returned items. These solu- tions electronically re-present a returned item to a check writer’s account in order to recover 100 percent of the check’s value. FEATURE ARTICLE “This is especially important to Deposit Operations desks tasked with handling a growing number of “Special Instructions for Returned Deposit Items” on a case- by-case basis.” STEVE LOWNDS SENIOR VICE PRESIDENT BSG FINANCIAL GROUP Community Banks Offer Innovative, Value-Add Check Recovery Service Business Customers Can Now Recover 75 Percent of Returned Deposit Items