Immediate Check Verification

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Any business owner who accepts checks will eventually have some bounced checks. You can limit your exposure by simply accepting checks only from local customers or, better yet, by using check verification.

Check verification does not verify funds in a customer's account, but it does check against a negative database. The negative database is basically a "who's who" of bad check writers. You use your credit card terminal equipment / check reader to check the negative database for check writers who have bounced a check at contributing merchant locations.

This information helps you make a more "educated" decision on whether or not to accept a particular check. In essence, our check verification provides you inexpensive insurance that helps you become alerted to a risky transaction. Buyers are not the only ones who have to beware!

• Gain essential information to help you avoid doing business with a bad check writer.
• Receive inexpensive insurance where you spend pennies to avoid possible heavy financial losses.
• Our negative database system uses velocity that tracks a combination of variables and provides "trip wires" that can help minimize your exposure to the intentional bad check writer.
• Our negative database is one of the nation's most extensive and is consistently updated.
• Easily implemented. In many cases, your existing equipment may be programmed to perform check verification.

The expression, "an ounce of prevention is worth a pound of cure," has applicability to accepting checks. Over 1 million checks bounce daily in the United States. The "cure" to this NSF check problem may very well lie in the preventative aspects of check verification, an important fraud prevention tool. For virtually pennies, owners can protect themselves from large losses stemming from bad check writers.

How can this be possible? The answer is found in the check verification process itself, where a customer's bank information is compared against an extensive negative database that contains information on bad check writers. If there is a match, indicating that the check writer has current, delinquent check-related debts, the cashier is notified within seconds allowing him/her to decline the transaction. In contrast, if no flag arises, suggesting that the check writer has not had a history of writing bounced checks, the check may be deemed "safer" to accept. Indeed, check verification is a "bearer of information" that contributes to a sound business decision.

Details of check verification are summarized below:

Check verification is very effective in reducing fraud as our database is quite large, and continuously revised and updated.

Furthermore, check verification is simple to implement. Existing terminals that are compatible can be programmed for check verification. If necessary, we can also provide check reading equipment. We recommend the check reader as there is less chance for error and delay. (In a programmed credit card terminal, the customer's check information must be inputted, possibly leading to data entry mistakes and slower check-out times.)

A logical question arises: What happens if an occasional check is returned NSF even after it has gone through the verification process against a negative database? Then it is extremely advisable to take advantage of our free electronic check recovery. (You should sign up for both check verification and check recovery services at the same time.) Please see the details of electronic check recovery to learn more about this service.

Please note that our check verification is so technologically advanced that you can discover whether your client's account is open, closed or frozen or whether the account has a positive or negative balance. It is the closest tool available to verify funds in real-time (at point of purchase).

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