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SOURCE: BSG Financial
Benefits of upgraded electronic resubmission program lead to accountholder satisfaction and generate income for banks
Louisville, Kentucky (PRWEB) March 19, 2013
BSG Financial has successfully proven the benefits of Re$ubmitIt® -- with it’s best-of-class electronic resubmission program. Re$ubmitIt is a superior electronic check collection program, helping businesses that accept personal checks recover potentially lost income.
On average, 70–75 per cent of all checks processed by Re$ubmitIt® are collected in full—a significant increase over the 40–45 percent using traditional collection methods for returned checks. Re$ubmitIt® also offers a free secondary collection service for those checks that go uncollected after the maximum number of electronic re-submissions.
BSG Financial’s clients report that Re$ubmitIt® has enhanced the partnership between businesses and banks by dramatically increasing income for both entities through electronic re-presentation of NSF items.
Gray Goldsmith, SVP Business Banking, Roanoke, VA , said, Re$ubmitIt's® greatest advantage to Valley Bank’s customers is making the collection of returned funds (overdrafts) a seamless one – this product is a perfect fit for customers that do not want to participate in their own collection efforts,” said Gray Goldsmith, SVP Business Banking, Roanoke, VA.
It is no longer necessary to make phone calls and write letters in an attempt to collect NSF items. After an NSF check is returned, it is sent to Re$ubmitIt®, then converted into an electronic transaction and re-presented electronically to the check writer’s account—up to two additional times.
“When compared to traditional methods, BSG Financial's Re$ubmitIt® program provides a wonderful alternative for our business customers to collect dishonored or returned checks, said Chris Talley, SVP & COO, Greer State Bank, Greer, SC. "We value our relationship with Re$ubmitIt® and have been very pleased with the assistance they have provided to our business customers with regard to their collection efforts."
There’s a good reason that most State Banking Associations' endorse Re$ubmitIt®.
About BSG Financial
BSG Financial is nationally recognized for its innovative, profit enhancing programs, created especially for the financial industry.The company offers CourtesyConnect©/CourtesyLimit©, the industry’s first Cloud-based overdraft management system with dynamic limits, Re$ubmitIt©, the BEST, compliant, electronic check recovery service, Sale/LeaseBack©, a program to help banks and credit unions generate tier I capital from non-earning, depreciating assets, ExpenseMark©, a cost reduction program with a component to maximize CORE services and pricing, and Social IQ/Insight IQ, solutions to capitalize on social media and compliance.
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