EZCollect Frequently Asked Questions:
What is EZCollect?
EZCollect is a free electronic check collection service for businesses. It is a value-added service of Automated Merchant Solutions (AMS) in collaboration with EZ Check Inc. of Houston, TX.
Is any equipment required to use EZCollect, such as check readers, scanners, terminals, etc.?
No. No equipment or authorization is required. The merchant accepts checks however they wish in their business. They send their returned items to EZCheck for electronic collection.
What are the fees to the merchant?
Unlike check guarantee and other collection agencies, there are no fees, no sign-up costs, no rates, no per item fees, no monthly minimums for the merchant to pay. All checks successfully collected under this program are reimbused to the merchant at full face value.
How does EZCheck offer this program to merchants at no cost?
Along with the face value of the check, EZCheck also attempts to electronically collect the maximum state allowed consumer returned check fee. This is how EZCheck gets paid.
What returned checks are eligible for this service?
Non-Sufficient Funds (NSF) checks only. Checks returned for any other reason(s) are not eligible for EZCollect per banking regulations. If the merchant wants to submit other types of returned checks (such as Account Closed) for collections, they will be accepted and worked as regular collection items. If collection is successful on these items, the merchant is reimbursed at 65% of face value.
When do merchants get paid?
Collected checks are paid monthly via ACH.
What happens after the merchant signs up for this service?
The merchant receives a Welcome Kit with their Merchant ID, POS sticker, and instructions. There is no file to build or equipment to be programmed or downloaded.
Why use a collection service instead of just collecting NSF checks in-house?
First and foremost, it's more cost effective. Secondly, it improves customer retention. When merchants are faced with having to contact customers about NSF collections, often the embarrasment factor costs them a customer. By letting someone else be the 'bad guy', merchants win the battle AND the war.
LEARN MORE or call AMS at 1-877-689-1691.
