Virtual Check / RCC / Consolidated Account


What is a Virtual Check Service?

Consolidated returns service routes returned checks electronically from the Federal Reserve directly to the merchants consolidated returns bank account. Returns are monitored on a daily basis. All returns are reported electronically on a daily basis reducing the typical 4-6 day return reporting window (from your financial institution mailing you the physical returned documents) to 24-72 hours.

How Consolidated Returns work:
• A special endorsement is placed on the back of a check below your depository endorsement before deposit
• Checks that “bounce” at the Federal Reserve are sent directly to your consolidated returns bank account
• The returned checks are reconciled with your transactions by PayZang
• Return reports are generated electronically and sent to the merchant
• Returned item fees are deducted from your reserve amount held at the consolidated return account with the bank handling your consolidated bank account
• Prevent returns from getting reported to your financial institution
• Items are received 4-6 days faster than traditional paper routing
• Return reports are generated electronically on a daily basis

PayZang LLC (“PayZang”) offers remotely created check (“Virtual Check”) services consisting of the creation of Virtual Checks, the transportation of Virtual Checks to the applicable bank via courier, and the acquisition of receipts from the applicable bank for each Virtual Check delivered (the “Virtual Check Service”). Merchants seeking to access and use the Virtual Check Service must apply for a PayZang Virtual Check Account (“Virtual Check Account”) by completing the Virtual Check application (“Virtual Check Application” or “Application”) below and by agreeing to the terms and conditions immediately following the Application (the “Agreement,” and together with the Application, the “Merchant Application and Agreement”). Aggregators can apply for a Virtual Check Account on a Merchant’s behalf by completing the Application and submitting the form with the supplementary documentation listed below:


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About Us

Capital Processing Group is a leading provider of payment technology and services to merchants and corporations of any size. CPG makes it easy for our clients to process transactions using our deposit services, deposit initiation, online credit card processing, remote deposit capture, ACH processing and multi-channel payment acceptance. Capital Processing Group offers multiple payment solution options that enable merchants to manage cash, accept and initiate payments more cost-effectively, securely and reliably. Our best-of-breed solutions incorporate robust, real-time payment engines that are web-enabled with comprehensive risk management functionality.

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