Centralized Returns allows merchants with single or multiple banking relationships to easily consolidate returned checks to a single account with checXchange™.  Merchants are typically charged a high returned check fee by their bank for every returned check they process.  Our Centralized Returns system consolidates returned checks into a seamless process which can significantly reduce or even eliminate your returned check fees.

checXchange™ allows merchants to centralize returned checks by using a customized deposit endorsement stamp, designating checXchange™ as the receiving endpoint, instead of the merchant’s bank. We provide customized wording for the endorsement stamp, or by working with a merchant’s data processing department or software vendor to help create the proper endorsement via their point-of-sale equipment or remote deposit capture software.

Our Centralized Returns service offers many benefits, including customized full data capture and entry, robust electronic reporting, next day online reporting of returned checks, and high resolution check images that can reduce the risk of your business accepting checks

The Centralized Returns stamp instructs the merchants depositing bank to return all dishonored checks to our processing bank. Our service will provide check imaging and a MICR file the same day checks are received, allowing the merchant to view and access returned check images and reports online. Plus, the merchant’s bank does not charge NSF fees to the merchant for the bounced checks.

Centralized returned checks are input into the checXchange™ system the same day they return from the Federal Reserve, increasing the collections rated and speeding up the time you are funded for recovered checks.