The Collection Management service allows you to collect electronically deposited checks that have been returned due to insufficient or unavailable funds.
If the returned checks or electronic debits are drawn and originated against Banco Popular accounts, Collection Management can be carried out for a maximum of 30 business days. Checks deposited or returned electronic debits originated against accounts in other banks are processed on the second day after the returns have been received and up to a maximum of 2 additional collection attempts, as determined by the rules of the National Automated Clearing House (NACHA).
Collection Management offers an effective solution to help your business be more productive. This service allows us to manage the collection of deposited checks and electronic debits that have been returned due to unavailable (NAF) or insufficient (NSF) funds from Banco Popular and other banks. In addition, we process the collection of the fee or penalty imposed by your business for returned checks.
Collection Management offers an effective solution to help your business be more productive. This service allows us to manage the collection of deposited checks and electronic debits that have been returned due to unavailable (NAF) or insufficient (NSF) funds from Banco Popular and other banks. In addition, we process the collection of the fee or penalty imposed by your business for returned checks.
