The small business owner sometimes has limited options for accepting payment that are practical and cost effective. The big companies use check guarantee services, which in my opinion, are over kill for the small to medium size business. The check guarantee type of service charges expensive setup fees, plus equipment fees, monthly minimum fees, plus statement fees and will cost you anywhere from 1.25% to 4% of the check amount …..if it is not first rejected with all of the exemptions. Who needs that trap.

This is totally unnecessary considering that the national average statistics from the banking industry indicates that at least 98% or better of the checks that a business accepts will probably clear. Let me clarify that there are exceptions to this average, which could be higher or lower depending on the type of business and location.  

The Good News is that accepting checks significantly increases your sales…. period. The Bad News is that 1-2% of those checks are going to probably bounce.  Why come unglued over the 1%? You have more important things to work on in your business.

So what should you do? I recommend you use a reputable check collection service that will reduce your risk and exposure of collecting checks for payment. National Check Recovery Consultants has researched many of the check management companies and recommends the best one out there, and did I mention…. is FREE.