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Re$ubmitIt

At Bank of Lancaster, we know how important it is for you to collect your money in a timely manner.  For this reason, Bank of Lancaster's electronic check recovery service, Re$ubmitIt, significantly reduces the burden of collecting funds from non-sufficient funds (NSF) checks, while potentially doubling your recovery rate.

How Does Re$ubmitIt Work?

The Re$ubmitIt electronic check recovery service handles the collection process discreetly and electronically from beginning to end, via the Automated Clearing House (ACH) network for re-presentment directly to the check writer's bank account.

  1. Returned checks are sent from the Bank of Lancaster to Re$ubmitIt, where they are converted into electronic items.
  2. The electronic check file is processed and strategically timed for re-presentation to the check writer's bank account for collection.  Presenting checks at proven "time slots" improves the chance of collection.
  3. If the Item is not recovered on the first electronic re-presentment, it is re-cued for a second electronic re-presentment (third total). If this third presentment fails, the check will be sent to Re$ubmitIt's traditional collections, or the check can be sent back to you.
  4. Upon settlement, 100% of the face value of the check is reimbursed to you automatically.  The check writer's account is charged the state-regulated NSF fee to cover the cost of collection.
    5.

What Are the Benefits to the Merchant?

  • Free service
  • Reduces the burden of collecting funds from NSF checks
  • Recover 100% of the check's face value collected electronically
  • Recovers money faster
  • Allows you to focus on serving customers, not collections

For complete details about Re$ubmitIt, please click here.

If you have any questions, please contact any of our Branch Managers or call our Customer Care Center at (804) 435-1171; toll free (800) 435-1140; or email contact.us@banklanc.com .



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