With Re$ubmitIt® you get 100% of the face value of all checks that are collected electronically!
How Does Re$ubmitIt Work?
The Re$ubmitIt electronic check recovery service handles the collection process electronically from beginning to end, via the Automated Clearing House (ACH) network for re-presentment directly to the check writer's bank account.
Returned checks are sent from LifeStore Bank to Re$ubmitIt, where eligible checks are converted into electronic items for re-presentment to the check writer's bank account for collection.
Upon settlement, 100% of the face value of the check is reimbursed to you automatically. The check writer's account is charged a state-regulated collection fee to cover the cost of collection.
If you have questions about the Re$ubmitIt electronic check recovery service, please call 866-860-5906.
To be Eligible for Electronic Recovery, a Returned Check Must:
- Be a personal check to a business (not business-to-business.)
- Be under $2,500.
- Be less than 180 days old from date of transaction.
- Cannot have been already submitted twice, either electronically or by paper draft.
What Happens to Ineligible Checks?
Returned items that are less than $2,500 and ineligible for electronic re-presentment are re-submitted to the check writer's account as a paper draft, subject to eligibility requirements. Items equal to or greater than $2,500, are not eligible for Re$ubmitIt® services.