Live Verification
Bank Account Balance Verification
Our proprietary Check Verification service, Live Verification verifies a consumers or companys bank account balance information. Ensure there are sufficient funds to cover the electronic or physical check presented. Utilizing this service significantly reduces check returns such as (NSF), hard returns (Account closed, account frozen, etc) and in some cases Unauthorized Returns.
An increase in unauthorized returns occurs when, without a check verification process, a bank honors a check and debits funds from the consumers account when funds are not available. This thereby causes the consumer to overdraft his/her account and assess overdraft fees. The consumer would than call the institution and claim the transaction was unauthorized in order to revert the fees assessed.
The Live Verification service confirms a sufficient account balance is available prior to debit thereby eliminating these types of returns.