Company: Check Assist - NSF Check Recovery

Locations: United States

Stars out of 5:

***

Suspected Spam or Scam (a): No

Job/Business: Business

Salary/Income Range: USD 25 per check processed to USD 30 per check processed.

Website: www.checkassist.com

Description of Business:
Check Assist Inc. has been in operation since 1990. In 1997, the company adopted a new approach by developing software that would enable electronic collection of NSF (Not Sufficient Funds) checks on behalf of merchant stores. The Pro version of the software costs USD 5,495.00. As a purchaser of the Check Assist software, stores that you manage to sign onto your service provide instructions to their bank to send all returned checks to you. Once received, the details of each check are fed into the system, converted into an electronic transaction and scheduled to debit the check writer's account. This is best done to coincide with a payday e.g. the 15th or 30th of each month or a Friday. The Check Assist NSF check recovery software interfaces with the ACH (Automated Clearing House). The number of stores you can sign-up and the number of returned checks from each will determine your eventual profit.


Pros:
1. Minimal engagement required.
2. Built-in Logic - no need to memorize rules that govern electronic recovery of checks.


Cons:
1. Geographical constraints - stores (and their banks) you sign-up should be a reasonable distance from your processing site to ensure timely delivery.
2. Difficult to attain the high volumes necessary to achieve meaningful returns. NSF checks are the exception rather than the norm i.e. they are a fraction and in the minority of total checks issued to the store.


(a) Scam - illegal / unethical job or business opportunity designed to trick people out of their money.
Spam - marketing of job or business opportunity, which does not pay out or provides very little value to the job/business seekers.





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