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10/15/2004 Re-presented Check Entries (RCK) A recent change in the law now allows banks to re-present NSF or Uncollected Consumer Checks via ACH in a process known as Re-presented Check Entries (RCK). ECSI has initiated this process with its bank, National City Bank. What this means to our clients is that there will be no more paper checks returned to the school when one is returned. In the near future, regular checks will also be converted to ACH, rather than deposited to the bank. This is part of the Check Clearing for the 21st Century Act (Check 21). This means that your borrowers will not receive paper checks back from their bank for payments made to ECSI. This change will be going into affect in late October at ECSI and many other institutions. For more information about the RCK process, please see our Regulations Article about the subject. If you have any questions about how this will affect ECSI's processing of payments or NSF checks, you can contact us at admin@ecsi.net.
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