ATMVerify offers
two distinct levels of verification. At the highest level of verification
(Level 1), ATMVerify is able to verify in real-time,
through a direct electronic query to the check writer’s financial institution,
if the checking account currently has sufficient funds to cover the amount of
the presented check. At the next level of verification (Level 2),
ATMVerify is able to determine if the account is, as
of opening of that business day, an open, valid account with positive funds.
If neither Level 1 nor Level 2 verification produce results,
ATMVerify can be set to query one or more of the
largest negative databases of known bad check writers, which is the
NCNVerify™.
ATMVerify can be
used at the point of sale, for Web or telephone-based transactions, and a
variety of other methods where checking account verification capabilities are
needed. ATMVerify can be integrated with some existing systems, shopping cart
software or any of our software products such as
VirtualTerminalTM,
DirectBillingTM or
SoftTerminalTM.
ATMVerify
Applications
- Check acceptance at retail (point of sale)
- Bill pay (utilities, mortgage, insurance, etc.)
- Online orders
- Telephone or mail orders
- Credit card companies
Level II Features
- Participation by most major financial institutions
- Account information updated each business day
- Identify open valid accounts
Level I Features
- Automated real-time sufficient funds verification
- Also identifies closed, frozen and non-existent
accounts
- Growing list of participating financial
institutions
Real-Time Check
Verification
- Reduce bad check acceptance
- Two levels of verification
- Largest source of account information in the world
- Sub-six second response times
- Batch mode option for large
volumes
In the past, check verification services have
been limited to large negative databases of known bad check writers combined
with infrequently updated databases of known good accounts. This method of
loss prevention has had very limited success as check losses in the United
States has steadily increased.
To determine which risk management products
are right for your organization fill out our
online form or call us toll free at 877-410-8447
today.