- 7,041
Right, they should have it setup to email us as soon as the eft is denied. We're the best chance of that policy staying on the books.
Help with Nsf Customer
- Thread starter paige23
- Start date
Right, they should have it setup to email us as soon as the eft is denied. We're the best chance of that policy staying on the books.
- Thread starter
- #12
- 227
All good advice.. i know they really should have a better way to communicate this stuff faster like email. But, i learned that it is best to have initial payment drafted on issue. I had a situation with a different customer who was drafted 2 times in a row due to the way i set her up and the date of issue. So , thankfully she called me and we fixed it. Apparently the other one was not the same problem , he was nsf and is now a history lesson.
Thanks for y'all's feedback.
Thanks for y'all's feedback.
- 20,003
I find it best to have the first premium drafted on the requested draft date that it will be on each month. For example, I wrote one today and the lady wants her drafts on the 28th of each month. I set it up for her first draft to be on the 28th and recrring drafts to be on the 28th.
I actually find it's best to have them write a check for the first month's premium but that's more work for me so I don't do that very often.
- Thread starter
- #14
- 227
So JD you usually just send over a voided check or draft form?
- 20,003
Yes. Both if available. I have to get the PAC form filled out and signed and I like to get a void chaeck but so many people today don't have checks.
What I do many times if they don't have check or deposit slips is take a picture of their bank card with my phone or a picture of a monthly statement and then print that oof and fax it with the application.
Some companies, like AmCon for instance, require something besides just the PAC form. Others like RNA and Americo will accept just a signed PAC form but I still like to get a void check if I can.
- Thread starter
- #16
- 227
I agree , it is so much easier. That is what i have been doing as well.
- 969
Many agents receive notice of a NSF or even a cancellation notice and don't do anything...
You should at a minimum call the client. It only takes a couple minutes and many times it is administrative or some type of innocent confusion. You can resolve those pretty easy. The other ones you can offer a lower premium program, so they don't have to lose all their coverage.
You will save a percentage... Worst case they call you a name and hang up on you and you're no worse off than you were originally.
You should at a minimum call the client. It only takes a couple minutes and many times it is administrative or some type of innocent confusion. You can resolve those pretty easy. The other ones you can offer a lower premium program, so they don't have to lose all their coverage.
You will save a percentage... Worst case they call you a name and hang up on you and you're no worse off than you were originally.
- 3,165
Travis,
Are u saying many agents wouldn't even try to recover their clients even in the 1st year? That's crazy... Who wouldn't try to save their own business they worked hard for? Who are these agents?
I will try even after year 1,cause it's an ego thing with me plus they shouldn't be canceling it anyways. I admit I wouldn't jump thru hoops for it, but I would definitely try to recover it.
Those must be agents that don't plan on making this their career... That's the only way I can understand it.
TDF
Sent from my Sprint Galaxy S4 using Insurance Forums
- 3,247
We actually drop in and surprise them... Figure out what happened, and save almost half of them... A little extra effort goes a long way!
- 3,165
We actually drop in and surprise them... Figure out what happened, and save almost half of them... A little extra effort goes a long way!
I try to drop in if I can too....I dont know the % Ive saved, but more then 1/2 for sure!
