Check Return / ACH Return Processing
iReturn™ Check Return / ACH Return Processing is the online, paperless return management system from iStream.
As a FedReceipt for Returns approved organization, iStream has automated the often-cumbersome returns process. By eliminating the need for paper returns and automating resubmission, iReturn streamlines the process, speeding up time to collection.
The returns process is enhanced due to features such as:
Instant Notification System
Communication is critical when it comes to a potential issue with deposit(s). The iStream platform leverages a real-time, instant notification system with several options to notify you of events such as returned items. Each time a user logs into the iStream platform, if there has been a notification, they will see a notification as such.
Additionally, e-mail notification is also an option for clients to receive alerts related to item(s) needing to be processed.
Dynamic Image Search & Reporting Capabilities
iReturn incorporates robust capabilities that allows a user to query the entire system for any item processed in the past seven years. The platform allows a user to view an original check image, the returned check image as well as any notes or additional data related to the return item. These options often prove to be invaluable tools to the individuals tasked with researching items processed in the past.
Ability To Print, Resubmit & View Returns
Locating return items is often only half of the process. Once the items have been located, iReturn also provides the tools necessary to speed up resubmission and communicate information about the returns in the system. With capabilities to print both the original and the returned image, resubmit a deposit with the click of the mouse or move the item(s) to a different area for collections or other actions, you have everything you need to work returns in a rapid and efficient manner.
iReturn provides the capability for users to set up returns for auto resubmission. Once this parameter is set, the system will automatically resubmit all eligible check items for a second time, automatically. Removed are the requirements to individually select items and manually resubmit, the system automates the entire process.
Ability To Add Notes Regarding Returned Item
If the need arises to append additional information or notes related to a situation and the associated items, the iStream platform offers integrated note functionality.
This allows for proper documentation and notification to other users of the system, providing a consistent view of the history and circumstances surrounding each specific item.
View Original And Returned Images On A Single Screen
iReturn matches the original scanned item with the returned image received. Should any data be illegible on the returned check image, a view of the clean original grayscale image captured is provided for clarity. The system is able to provide this functionality due to the fact that the solution captures images in multiple formats at the onset of the transaction, so as to reduce any image quality issues later in the process.
Increased Ability To Collect Funds
Since both notification and resubmission can be automated, the need to wait for paper return via postal mail is eliminated. As soon as the return is posted (often in as little as 48 hours), the item details can be reviewed and appropriate action to collect can begin.