WHAT IT IS:
MicroBilt’s Consolidated Returns product is a convenient way to direct all returned checks, electronic checks and remotely deposited checks (RDC) to a centralized account at our one of our sponsor banks, greatly reducing the bank fees associated with returned checks.
WHAT IT DOES:
Once only available to large corporations with thousands of monthly deposits, Consolidated Returns is now an option for businesses of any size, thanks to a joint program between MicroBilt and our sponsor banks.
Through this relationship, Consolidated Returns ensures that any returned deposits or checks are identified quickly. In addition, the bank cost for each return is greatly diminished.
With Consolidated Returns, all deposits are pre-screened through MicroBilt’s Risk Verify Database Plus to identify and reduce possible unauthorized and administrative returns. Deposited checks will include instructions to direct all returns to a consolidated return account owned by you at our sponsor bank. This account is managed directly by your business. You have complete ownership of the relationship.
WHAT IT IS USED FOR:
Consolidated Returns is helpful to any business concerned with managing the fees associated with returned check, e-checks and remote deposits.
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