SMALL BUSINESS FAQS

Bad Check Recovery is a free, Web-based service that provides automatic handling of checks made payable to your business, deposited into your Wachovia account, and then returned due to non-sufficient or uncollected funds.

Bad Check Recovery takes the collection burden off of you and helps you recover revenue lost on dishonored checks. Bad Check Recovery strategically chooses when to debit the check writer's account for faster and more successful recovery rates.

There is no cost to you for this electronic recovery process. Once collected, you will receive the full check face amount. The bad check writer is charged for the cost of collection, as allowed by law. 

Yes. Statistics indicate a recovery rate of 40% - 50% using traditional recovery methods. Bad Check Recovery can increase your successful recovery of NSF checks up to 85%.

You can enroll in Bad Check Recovery from within Wachovia Business Online by selecting the Manage Bad Checks link from the Summary of Accounts page or from the Customer Service tab. After selecting the Manage Bad Checks link, simply follow the instructions.

You will be notified by email, fax, or regular mail when dishonored checks are received and also when checks have been collected and deposited into your account. In addition, you will be able to view an image and track the status of any check in the recovery process 24 hours a day, seven days a week on your Account Summary page through Wachovia Business Online.

Yes. You have the option to collect checks yourself as part of the initial review process. The check will then be removed from the recovery process, and the check will be sent back to you.

Wachovia will credit funds directly to your checking account on the next business day after settlement, as required by law.

The check will be re-presented immediately upon receipt. If it is returned again uncollected, the Bad Check Recovery service will attempt to verify funds with the check writer's bank for up to 45 days before returning the check to you. Of course, you may request a check to be returned to you at any time during that period by contacting customer service at (877) 546-2683.

If the Bad Check Recovery service receives a dishonored check that has been deposited to your account and is unable to recover the funds electronically, the check will be mailed to you the next business day after recovery attempts are exhausted.

Yes. Due to National Automated Clearing House regulations, the following types of checks are not eligible for electronic representment and cannot be recovered through Bad Check Recovery:

• Checks returned for a reason other than Non-Sufficient (NSF) or Uncollected Funds
• Checks written for an amount more than $2,500
• Checks written on a closed account
• Checks written on a foreign bank account (not in the US)
• Checks stopped via a stop payment order

These checks will be mailed back to you the next business day after receipt.

No. If Bad Check Recovery cannot recover your returned check electronically, the returned item will be mailed back to you.

Yes. Online reporting provides the fastest method of tracking returned checks. You can view check images, create and print reports sorted by multiple fields (date, amount, check writer, business location, etc.), and download reports in Microsoft Excel. 

For technical questions regarding the Bad Check Recovery Web site, call toll free (877) 546-2683, Monday through Friday, 8:00am to 9:00pm ET.

No. The service is Web-based and accessible through Wachovia Business Online with complete account details available 24 hours a day, seven days a week on your Account Summary page.

With all Wachovia Business Online services, your User ID and Password combination prevents unauthorized entry to your account. When you use Bad Check Recovery, you access the Internet via a secure connection with the highest level of encryption available.