Fees Paid to the Processing Bank for Bank Account Transactions (EFT):
For all questions related to your merchant accounts, please contact Merchant Services at 877-343-8950 Ext 105. Outside of the continental U.S. dial +1(619) 569-1639 Ext 105.
As with all merchant accounts, there are fees associated with processing credit cards, debit cards, and bank EFT transactions. This is the cost of doing business. However, if you have a patient whose bank EFT is returned (bounced), then you can recoup associated fees as long as your patient is aware of your returned check policy.
RETURN CHECK FEE:
You should have a "Return Check Policy" in your office to help offset the return EFT return fee IF the error is on the patient and not human/staff error.
Based upon your policy, the patient would be responsible for a fee of $10-$25 (as determined by you) if the returned check was due to insufficient funds or wrong information provided, however, the patient would NOT be responsible for the returned check fee if the bank information was entered incorrectly into Cash Practice. (human/staff error).
Your Return Check Policy and Returned Check Fees are something that needs to be clearly posted in your office, compliance manual, and any patient paperwork.