Our Web-Based Electronic Verification system is an actual scan of about 45% of the bank accounts in the country.  The scan will indicate that the bank account in question is an open account or not and also if the account has a positive balance or not. You receive the answer back in seconds and can process the check or ACH item accordingly.

CHECK VERIFICATION:

Check Verification is an important topic for businesses who want to verify checks before shipment of merchandise or before submitting a paper or electronic check for payment. Until now the best hope was a data base of good and/or bad check writers.

ALTERNATIVE OPTION:

If an account is not part of the database then it can drop down and do a traditional good/bad check writer scan to determine whether it is prudent to deposit an item or not. There is no charge for the failed electronic Check Verification when the routing number is not in the system – only a charge for the traditional verification (optional service).

PINGING FOR DATA:

Clients can search for one check at a time or can upload an entire batch in simple text file format. The answers come back in seconds.

RESERVE THE FUNDS AT SOME BANKS:

At least two California banks are reserving funds through this system. Soon more banks will be doing it – a 24 hour reserve based on the verification data. This gives time to send out an ACH debit to recover the funds.

WAVE OF THE FUTURE:

Electronic Check verification is the wave of the future. As more banks join the system and the system improves it will become the only way to perform verification for checks and ACH debits.