Anyone who runs their own business understands that there will be times when they receive bad checks. This is a risk that comes with being willing to accept such a form of payment from customers, but does that mean that it’s something that should stop you from accepting checks? There is a better solution, and that solution is hiring a check recovery service.
Benefit your customers by accepting checks as payment
If you decide to stop accepting checks completely, you are going to lose some customers, which is still going to cost you some money in the long run. Instead, you might consider hiring a collection agency for small business to collect on the bad checks. This will allow you to keep your check-writing customers while also losing less money from the bad checks that you do accept.
Might not cost you a penny
There are many check recovery services that won’t charge your business a dime. They are able to do this because they get paid the check recovery fee. This also means that the full amount of the checks that they recover for you will be placed into your account. If you are able to find a service that functions in this manner, you really have nothing to lose.
Protects your business’s interests
If you can still accept checks without having to worry about losing a ton of money on bad checks, then you are both benefitting your customers and your business. It is in your own interests to serve your customers, and allowing them to write checks for your products and services is something that adds to their convenience.
Although simply refusing to accept checks might seem to be the easy way out, it appears apparent that simply hiring a recovery service is your best bet.