A CLOSER LOOK AT RCC
Solutions for you
RCC transactions are governed by check laws and the Uniform Commercial Code rather than ACH rules and regulations set by the ACH governing body, NACHA. If your business struggles with the ACH ratios for returns and revokes, Remotely Created Checks are a good option for you.
You control your settlements. Funds can be settled directly to your bank account the next day. No hold times or reserves required. Alternatively, ACHQ can handle settlement and clearing. The only transaction your business bank sees is the cleared funds settled to your account.
ACH rules require revoked transactions (chargebacks) to remain below 0.5% and returns under 15%. RCC does not have this limitation, giving you greater flexibility on both revokes and returns. When we couple RCC with our amazing risk solutions, we can assist you in getting your returns under control, saving you management time and money in the process.
Both ACH & RCC transactions are accepted by large US banks. RCC expands your coverage to include transactions from credit unions, savings & loans, small banks, brokerages, and checks drawn on credit card accounts.
RCC allows more characters to be used on the descriptor than ACH transactions. Details of an RCC transaction appear on consumers’ bank statements as a cleared paper-check transactions, and if the customer’s bank provides them with images of the checks, they will see an image of your RCC transaction as if it was a traditionally written check. This helps consumers to easily remember the transaction, decreasing risk of revokes.