What are consolidated or centralized returns?
Centralized Returns processing consolidates a company’s returned checks into one bank, even if the company has many depository banks. This allows a company to control the collection process more effectively by speeding the collection through Electronic Re-presentment and providing significant costs savings on banking fees usually associated with NSF items. Centralized Returns processing reduces banking fees on NSF items by eliminating the re-deposit step to the depository bank. You will also know more quickly when an item has been returned with Centralized Returns processing, a critical factor in increasing collection rates on NSF items.
