Real Time Check Verification

Access Payment Systems offers a comprehensive suite of risk management tools to help prevent NSF Checks or what most people refer to as a bounced check. Accepting checks or ach payments is a necessary part of business and the reality is that checking accounts bounce. However, your business can significantly reduce your exposure to the risk of accepting bad checks or ach payments with our Real Time Check Verification product called ATMVerify and NCNVerify.

 

Remotely Printed Checks

Superior to Check Guarantee Verification

The Real Time Check Verification tool provided by Access Payment Systems is nothing like the standard negative database product offered by companies like Telecheck and their Check Guarantee service. This Check Verification tool is as close to calling the bank and verifying the bank account as it gets. Instead of checking against a negative database of check writers as do most check verification products, ATMVerify will verify that the checking account is open or closed, in NSF status and if there is a positive balance. As a back up you can include our NCNVerify, which is equivalent to your negative data base of check writers similar to Telechecks verification. Combine these services with our Free Check Recovery service and you have a complete check acceptance program that is a much better value then traditional Check Guarantee programs.

 

Tiered Check Verification Levels in Real Time

Access Payment Systems offers two distinct levels of Real Time Check Verification with the option of using both or only one. At the highest level of Check Verification, ATMVerify is able to verify in real time, through a direct electronic query to the check writers financial institution, if the checking account is, as of opening of that business day, an open, valid account with positive funds or if the account is currently NSF, closed or cannot be located. If a checking account is not in the ATMVerify network, you have an option as an automatic back-up to query one of the nation’s largest check verifications negative databases of known bad check writers, which is NCNVerify. We also offer the ability to customize how the responses are handled. This includes the option to “Accept” or “Decline” responses for closed accounts, stop payments, NSF, no debits or a young checking accounts in addition to checking any outstanding items on an otherwise approved account. Very powerful.

 

Tiered Check Verification Pricing

At Access Payment Systems our pricing structure for Real Time Check Verification is set up as a tiered program. ATMVerify has a higher cost then NCNVerify since they each provide different types of information. The Check Verification system first queries through the ATMVerify database and if it is successful there is only a charge at that level. If you choose to include NCNVerify, our Real Time Check Verification system will automatically verify at this level if no data was available through ATMVerify. In this case you will only be charged for the NCNVerify. If you choose not to include NCNVerify then there will be no charge at all if no data was available for ATMVerify. Basically you will not be charged for information we could not provide.

 

A Variety of Real Time Check Verification Systems

At Access Payment Systems all of our Real Time Check Verification solutions can be used at the Point of Sale, Internet, Mail Order or Telephone Order and Batching Processing. These systems include our Virtual Terminal and other software products, Ecommerce, Payments Gateway, Batching and integration of your transaction systems into our gateway. Combine this with our ACH Processing, Credit Card Processing and Identity Verification and you have entire suite of payment services in one system.

 

ATMVerify & NCNVerify available in a Counter Top Terminal?

Real Time Check Verification is also available in our newest application using a point-of-sale counter top terminal called the Verifone VX570. The Vx570 is an Internet based terminal that communicates transaction data via the Internet using an Ethernet connection. Since all of our systems are Internet based all transaction data transmitted through the VX570 will reside in our Internet servers and reporting for all transactions is available through our Virtual Terminal at no extra cost. If necessary you can combine this with a check reader as shown on our Equipment page. This is unique because no other similar Check Verification provider offers this product in a Point of Sale Credit Card Terminal. Combine this with Credit Card Processing and Electronic Check Conversion and you would have the most powerful Point of Sale Terminal set up available today.

To determine which risk management products are right for your organization call Access Payment Systems today at (877) 410-8447 or submit an inquiry from our Contact Us page. If you already have a solution in place, take a look at our Switch & Save plan. We may be able to save you on processing fees by switching to us.