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Sign up for Check A Check now!
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Finally, A comprehensive check verification system to help you make instant decisions!
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Simply enter the account number, routing number, check number and amount and receive information in less then 1 second.
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Decline reasons include....
- Account Closed
- Stop Payment
- The account is currently in an NSF balance
- Non DDA Account
- Invalid Account Number
- Invalid Routing Number
- Stolen/Forged/Fraud
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Why is this important? |
The more information the merchant has, the better its ability to make decisions.
For example, some merchants will do business with a customer whose account is
currently in an NSF status because all they care about is knowing whether or not
the account is an open and valid such as a payday lender. Others need to know if
the account is open and valid such as a check casher. By providing the merchant
with these detailed responses, it enables the merchant to make informed decisions
on a customer by customer basis.
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National Check Networks (NCN) Negative Database
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Who offers this?
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Everyone.
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What they offer:
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When a merchant pings the database they receive an accept or decline.
The decline is just that, a decline. No further information is provided.
The database is created by participating merchants and collection agencies
based on dishonored checks that were presented to them.
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What we offer:
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Everything they do, plus, when we decline, we provide you with the reason why. Declined reasons include.....
- Negative Data – Information was found in the NCN Negative database. Typically this is because of NSF activity.
- Closed Account – Bank Stop: Bank has stopped the account.
- Stolen/Forged/Fraud – Someone has reported that checks with this account have been stolen or forged.
- Customer Stop – The account owner has requested that transactions on this account be stopped. This is likely because the checks have been lost or stolen.
- Merchant Stop – The merchant has requested that all checks with this account be stopped.
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Why is this important?
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Finding out exactly why a check is in a negative database is extremely important.
If you’re in an industry where your clientele is sub prime, they will probably
have checks present in the negative database. In reality, what is really important
is whether they have truly fraudulent items out in the market.
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Fraud Data Supplied by Financial Institutions
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Who offers this?
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No one to our knowledge
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What we offer:
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Every week our provider receives updates from financial institutions on
accounts that are reported as fraud.
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Why is this important?
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Financial institutions are the first to know when account fraud is present.
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Real-time Account Information
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Who offers this?
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A few.
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What they offer:
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They provide you with a “yes” or “no” response on whether or
not there is enough money in the account at that time for the
check to clear.
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What we offer:
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The same thing.
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Why is this important?
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Unfortunately there are only three small banks that provide this information
and that list hasn’t grown in the past three years. Providers will claim more
are coming online, but they’ve been claiming that for 3 years. The bottom
line is less than 1% of the checks you take will be able to be verified using
this service and it’s difficult to build a business case around it. If any
provider tells you anything different, it’s just not true.
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Additional Data We Provide
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- Information on invalid account numbers
- Information on invalid routing numbers
- Duplicate check number information
- ACH only information
- Additional internal fraud notifications based on our own databases.
- And more!
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Sign up for Check A Check now!
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