Electronic Clearing House, Inc. announced that it has created a joint marketing alliance with Provident Bank to offer Consolidated Returns Services to ECHO’s customers and prospects nationwide. Consolidated Returns service is an effective method of consolidating a company’s returned checks into one bank, even if the company has multiple depository banks nationwide. This allows a company to better control their collection process by speeding the collection of returned checks through electronic re-presentment and provides significant cost savings on banking fees usually associated with NSF items.
! Another major benefit of utilizing the Consolidated Returns Services is reducing the return check process to as little as 72 hours. This gets the bad check writer into ECHO’s NCIS negative database faster and eliminates the chances that any additional checks written by the same bad check writer will be approved.
“We are pleased to work with Provident Bank in offering Consolidated Returns Services. This alliance will enhance our ability to offer merchants the most comprehensive check services in the country and also continue to strengthen our NCIS database,” stated Joel M. Barry, CEO of ECHO.
About Provident Bank. The Provident Bank is the main subsidiary of Provident Financial Group, Inc. (Nasdaq:PFGI), a Cincinnati-based company with $13.9 billion in on-balance sheet assets and $19.6 billion in managed assets. The Provident Bank provides full-service retail and commercial banking operations regionally and nationally. Additional company information is available at [http://www.provident-bank.com].
About ECHO. Electronic Clearing House, Inc. provides debit and credit card processing, check guarantee, check verification, check conversion, check re-presentment, check collection, and inventory tracking to over 58,000 retail merchants and U-Haul dealers across the nation.