Due to the shortened Reg CC holds for local checks (2 days), we are seriously considering sending checks for collection. Does anyone out there have a collection form (which is sent to the drawee bank) that they would be willing to share?

Thanks!

I would like to re-iterate this to all of you out there - does anyone have any samples??

Thanks!!

We do not send checks for collection.

As Internal Auditor, I have recommended this (sending in for collection as opposed to reliance on a hold and pray) for a couple of years and will continue to suggest the benefit of this on those check items that are 'sketchy'. When there has not yet been a loss or any material amount, this is hard for operation's to undertand. However, I would feel negligent to remain mute on this as it is more a matter of time and I believe that 'we haven't had a problem with this' is just not a good control over the risk of potential loss.

A brief letter request is all that is needed, asking the f.i. to please hold the check until funds become available or until X amount of time has expired and return to you in the pre paid, pre addressed envelop enclosed.... (Be sure to keep a copy, front and back)

I'm old enough to remember sending items for collection...it's a pain.

Your letter should be written with a precise understanding of how the process is meant to work. In the 30+ years since I was a teller the number of bankers who understand what's required at both ends of the pipeline has dwindled to the level of an endangered species. If you develop the perfect letter it's likely the reader at the other end will be scratching her head & saying, "What it the devil is she talking about?"

We used to get ours from a banking forms company. They were multi-part forms with copies for everyone (rainbow of colors). Maybe you can google to find a forms company.

are you charging a fee for the collection? The only collections we usually see (even these are rare) are for NSF items. If the funds are good, we take a fee and send a cashier's check for the balance.

Same here.