Upon submission of a transaction, the Check Verification solution determines the validity of a bank account, confirming the account is both valid and open. Using the complete Check Verification solution reduces R02, R03, R04, R13 ACH returns & Unable to Locate, Refer to Maker, Closed Account, & Frozen check returns.
Unlike many of the check verification solutions, Check Verification does not utilize online banking credentials, only requiring routing and account numbers.
NCN verification queries the National Check Network, a consortium of data providers. The query determines whether the check writer has written "good" (cleared) check items in the past.
NCN verification queries the National Check Network, a database consisting of over 300M records. The query determines whether the check writer has written "bad" (bounced) check items in the past.
Once submitting a transaction for ATM Verify or ForeWarn, a client receives the result of the verification in real-time.
The combination of ATM Verify and ForeWarn Validation covers nearly 95% of the bank accounts within the United States.