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Real Time Check and ACH Verification
Cashing a check you're not sure of? Verify the check BEFORE you cash it!
- Immediately, in real time, Verify the item BEFORE you take it - INSTANTLY!
- Account closed?
- Stop payments exist on the account?
- Non DDA Account (debit card or other type of account)?
- Invalid account number?
- Invalid routing number?
- Account doesn't exist?
- Stolen? Forged? Fraud?
- Information on invalid routing numbers
- Information on invalid account numbers
- Duplicate check number information
- MORE HIGHLIGHTS
- Identifies negative data (accounts with unpaid return checks)
- Descriptive responses to identify the reason for the denial or acceptance of a check
- Unusual check activity is flagged to identify potential fraud attacks (data indicating unusual/suspicious use of account)
- Integrate via XML or use in your store front with no integration
- Fraud monitoring that notifies you of potential fraud on certain accounts
- Only pennies per transaction
- No long term contracts
- No minimums
We include NCN early warning proprietary data bases! Verify 700 million bank records in One Second!
Simply enter the account number, routing number, check number and amount and receive information in less then 1 second.
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
Why is this important?
The more information the merchant has, the better their ability to make decisions.
For example, some merchants, such as payday loan operators, will do business with a customer whose account is
currently in an NSF status because all the merchant is concerned about is knowing whether or not
the account is open and valid. By providing the merchant
with detailed responses, it enables the merchant to make informed decisions
on a customer by customer basis.
National Check Networks (NCN) Negative Database
Who offers this?
Everyone.
What they offer:
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
What we offer:
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.
Why is this important?
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.
Fraud Data Supplied by Financial Institutions
Who offers this?
No one to our knowledge
What we offer:
Every week our provider receives updates from financial institutions on
accounts that are reported as fraud.
Why is this important?
Financial institutions are the first to know when account fraud is present.
A few.
What they offer:
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.
What we offer:
The same thing.
Why is this important?
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.
- 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!
Fill out the form below to receive more information.
Trihouse Consulting
601 East Charleston Blvd. #100
Las Vegas, NV. 89104
702.208.6736
Team@PaydayLoanIndustry.com
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