Home  ׀  Contact Us  ׀  SOAR Login  ׀  Site Map

CIRCUIT CITY RENEWS SOLUTRAN CHECK MANAGEMENT RELATIONSHIP

Minneapolis – (August 25, 2004) – Circuit City Stores, Inc., a leading retailer of consumer electronics, personal computers, and entertainment software, has signed a three-year extended agreement with treasury management service provider Solutran^® for its returned-check management services. 

“We are pleased to extend our relationship with Solutran, a company that we have worked with since 2000,” said Philip Dunn, senior vice president, treasurer for Circuit City. “Solutran’s return check solution speeds the flow of returns to our collection vendor, ultimately resulting in reduced banking costs and check losses.”

Circuit City will rely on Solutran’s returned check consolidation, or RCC, services, to route all returned checks, regardless of the retail location at which the check was written, to Solutran for transaction consolidation. By utilizing RCC, returned checks are received up to six days earlier, resulting in fewer check losses.

About Circuit City

Richmond, Va.-based Circuit City Stores (NYSE:CC) is a leading specialty retailer of consumer electronics. Circuit City operates 604 Superstores and five mall-based stores in 158 U.S. markets. Its subsidiary, InterTAN, Inc., operates through more than 1,000 retail stores and dealer outlets in Canada. Circuit City also operates a Web site at www.circuitcity.com.

About Solutran

Since 1984, Solutran has provided a full range of treasury management solutions to businesses that process a high-volume of consumer payment transactions. Solutran’s customized solutions span the payment spectrum, from paper check processing and conversion to fully electronic payment processing. Services offered include depository processing, accounts receivable conversion, controlled disbursement services and returned check management and conversion services. Headquartered in Minneapolis, Solutran has 85 employees at its corporate office and maintains relationships with ten affiliate processing centers across the United States and Canada. For more information, visit Solutran’s website at www.solutran.com or call 888.SOLUTRAN (888.765.8872).

-###-

- Articles

- Events

- Media Information

- News Releases

- eNewsletter

Phone: 763.559.2225     Fax: 763.559.8872     Email: solutions@solutran.com

Products & Services  ׀  Client Service  ׀  News & Events  ׀  About Us  ׀  Resources  ׀  Contact Us  ׀  Site Map