Hickory Point Bank’s electronic check recovery service, Re$ubmitIt^® significantly reduces the burden of collections, while potentially doubling your recovery rate. You collect more returned checks and get 100% of the face value of all checks that are collected electronically.

How Does Re$ubmitIt Work?

The Re$ubmitIt electronic check recovery service handles the collection process discreetly and electronically from beginning to end, via the Automated Clearing House (ACH) network for re-presentment directly to the check writer’s bank account.

• Recovers 100% of the face value of all checks collected electronically

• Increases collection rates

• Recovers items more quickly

• Reduces cost of manual processing

• Provides collection status 24/7 via the Internet

• Allows you to focus on serving customers, not collections

1.   Returned checks are sent from Hickory Point Bank to Re$ubmitIt, where they are converted into electronic items. 

2.   The electronic check file is processed and strategically timed for re-presentation to the check writer’s bank account for collection. Presenting checks at proven “time slots” improves the chance of collection.

 3.   If the item is not recovered on the first electronic
re-presentment, it is re-cued for a second electronic
re-presentment. If this third presentment fails, the check will be sent to Re$ubmitIt’s traditional collections, or the check can be sent back to you.

 4.   Upon settlement, 100% of the face value of the check
is reimbursed to you automatically. The check writer’s
account is charged the state-regulated NSF fee to cover the cost of collection.

If you have questions about Hickory Point Bank’s Re$ubmitIt electronic check recovery service, call the Bookkeeping Department at 217-875-3131.