Do You Have Consolidated Returns Accounts? How Do They Work?

Consolidated Returns accounts are special Return Only accounts set up to catch all of your returned deposited items before they reach your bank. They are set up for many different reasons. Whether you do not want your bank to see your return rate, or you have multiple locations and bank accounts, this may be a good viable option for your company.

Green supports the Consolidated Returns option by creating your check images with the proper Consolidated Returns Federal coding. There is no charge for adding this service to your Green merchant account.

To set up a Consolidated Returns account consult the following financial institutions:

Fifth Third Bank
Bank of Kentucky

There are other banks offering this type of service. However, you will have to research more to locate them.

When speaking to banks make sure you are speaking with a Business Banker with experience. Most tellers, account reps, and regular branch managers will not understand, and will require assistance from Corporate Banking to get you to the correct department. 

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