Payment fraud losses impact nearly all businesses. Whether it is from forgery, counterfeiting, alterations, paperhanging or kiting, the end result is the same: you lose money that is owed to you. Check Verification uses the most current and accurate data to combat this type of fraud and significantly reduce risk associated with accepting potentially fraudulent checks.
Check Verification comes in two levels of protection:
Level One: Account and Routing Numbers – if the account or routing number on the check is found to be invalid, the payment is rejected. This screening process stops a very high percentage of payments initiated through the web where a customer or subscriber enters an inaccurate number to delay payment.
Level Two: Negative Account History – a payment is declined if the check writer has a history of writing bad checks and/or still has outstanding debt to you or any other business partner.
Contact us to learn more about Check Verification.