New banking rules passed in 1998 and finalized in March 2001 allow a check writer's bank account to be electronically debited for the face value of an NSF check, plus a collection fee. CybrCollect collects the money electronically and makes daily deposits into the Members' bank account – resulting in an average collection time of 6.25 days!
Daily updates and deposits: Everything you need to know is faxed or e-mailed to you daily. We deposit the full value of collected checks directly into your account daily. No waiting days or weeks for your money. Unlike banks or other collection companies, we never charge you a collection fee…ever! And you can go online, anytime, to view the complete status of your account!
CybrCollect has the best web site in the business: Isn't it frustrating to log on to a slow, flashy, animated, glittery, busy web site? We think so! That is why the CybrCollect web site is simple, clean, easy to follow and full of information about your business. Easy-to-read reports and graphs that show how we're doing, graphs that tell you if you need to use verification to cut back on closed accounts. Download any of your information directly into Microsoft Excel ®.
The best reporting in the business: Daily Fraud Alerts help you stop bad checks before they happen! Our computer scans for people who have written 3 bad checks in the past 30 days in your area and emails you a warning! Reports including Checks Collected and Checks Received are provided daily, and other reports are accessible 24 hours a day on CybrCollect's website.
Why is CybrCollect better than the competition?
A proprietary software program identifies those checks with a high probability of
being collected the same day we receive them.
An in-house collection technique that most of our competitors don't use.
Industry insiders have compared our results to competitors who don't do this and found that our success rate is 25% higher!
Special nation-wide banking arrangements that get the bad checks into our hands 5-7 days sooner than our competitors can get them.
When you combine this with our daily fraud alerts, you can cut off bad check writers a week before any one else!
Our Bank Fee Reduction Program drastically cuts your returned check fees.
What happens if one of your good customers bounces a check? Call us toll-free and tell us to drop the fee. Your customer will not be charged a fee.
Do I need to use check verification or check guarantee? From a cost/benefit stand point, only about 15% of businesses actually save money this way. After you use our free service for three months, we can analyze your account and tell you if check verification or check guarantee will help.
