NSF Check Collection

Modern Information Systems provides an NSF collection system called eZCheckNet a solution from eTech Transaction Solutions, Inc.  It incorporates electronic check recovery with superior client support and advanced Web-based reporting.

eZCheckNet achieves over 90% collection of all returned checks drawn on active accounts – more than doubling the industry standard collection rate of 43%.

The service packages available for the client to pick from are:

1. The eZCheckNet service-  a stand alone, zero cost funds recovery system.
2. The eZConsolidated service-  a version of the eZCheckNet service that provides an aggregation of all returned checks into a consolidated bank account of eTech.  This service results in a reduction of accounting entries, improved cash flow, and lower banking fees.
3. The eZConsolidated Plus service Version I and II-  enhanced versions of the eZConsolidated service with addition in Version I of point-of-sale check verification module, or the alternate Version II that includes the ddition of an electronic remote deposit module.
4. The eZConsolidated Premier service-  an enhanced version of the eZConsolidated service (equivalent to a combination of eZConsolidated Plus Version I and II) with the addition of both a point-of-sale check verification module and an electronic remote deposit module.
5. The eZCheckNet Gold service-  a service that eliminates the revenue risk of returned checks through a comprehensive guarantee, improves funds availability and reduces banking fees, at less cost than a credit card transaction.