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Xpress Redeposit

BankOnBuffalo's electronic check re-presentment service, Xpress Redeposit, significantly reduces the burden of collecting funds from NSF checks, while potentially doubling your recovery rate. You collect more returned checks and get 100% of the face value of all checks that are collected electronically!

Click here to view Xpress Redeposit transactions in process for your business.

How Does Xpress Redeposit Work?


Xpress Redeposit allows you to accept your customers' checks with less worry.  There is no equipment to buy and no set-up charges to enroll.

  1. You accept your customer's check and include it in your bank deposit.

  2. The check is returned due to Non Sufficient Funds.

  3. BankOnBuffalo will debit your account for the amount of the item plus applicable chargeback fees, as they always have.

  4. BankOnBuffalo will send the item electronically to Xpress Redeposit, who will re-present that item to the check writers account for collection up to two additional times.  The first re-presentment is usually within 24 hours, the second (if necessary), will use smart technology to maximize your rate of collection.

  5. Upon successful collection, 100% of the face value of the check is deposited to your BankOnBuffalo account.

  6. Xpress Redeposit charges the check writer a state-regulated service fee.  The recovery/collection process costs you nothing!

  7. If Xpress Redeposit is not successful in their re-presentment efforts, you may print out an image of the item, and proceed with your own collection efforts including charging a fee to the check writer.


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
  • Be due to non-sufficient funds, not due to account closure or stop payment

What Happens to Ineligible Checks?

Returned items that do not meet the eligibility requirements above will be redirected to the business, so that they attempt to collect the item the way they always have. 
 

Contact Us Today!

If you're interested in learning about our products and services, please contact us toll-free at 1-844-510-0819, or send an email to CustomerServiceCenter@BankOnBuffalo.bank. BankOnBuffalo appreciates the opportunity to be your financial partner.

(Please be aware that the email you are sending is not secure. Please do not include sensitive information, such as your account information, social security number, PIN or password.)