CheckVerifyNow ™ provides real-time access to positive and negative account information, as well as check level status. Check verification identifies items at the point-of-sale, online and over the phone with the elimination of potential fraud and the likelihood of returning unpaid items. Our system is designed to position businesses to protect themselves against financial loss, by strengthening and protecting their ability to identify suspicious transactions while conducting good business.
With extensive national coverage of both positive and negative check writer information, our service coupled with ACH processing is a powerful tool that helps boost overall check acceptance risk management strategy.
Check Verification Enables you to:
- Take preventative action before a loss is incurred
- Verify check account status in real-time
- Access the most current status information on checking accounts
Affirmative provides several verification options utilized as a stand-alone service or bundled together with ACH processing or Check 21 solutions.
- Basic Verification- Validates Routing Numbers
- Proprietary Database- Affirmative’s trusted verification partner maintains a Negative Database made up of tens of millions of bad account and negative items.
- Real-Time Status on Accounts provided by Financial Institutions
- Negative Data Subscriptions
- Create your own Private Bad Check List
Account Status– Response indicates what a paying financial institution reports at the end of the prior day’s processing cycle. This is in contrast to shared negative databases that wait for a returned check data before information is available.
High Risk– Closed Accounts, Non Transactional Account, Account Not Located, and Repeat Offender of NSF
Informational– Open Valid Account, Account in NSF Status, Closed Account/Unable to Locate, and Stop Payment
As Fraud continues to reach new levels of sophistication, the speed with which current and accurate information is integrated into the process that detects, prevent and deter fraud becomes critical. Leave the check acceptance up to the experts while you pay attention to your valued customers and growing your bottom line. The key factor here is taking preventative action before a loss is incurred.