Check Services
Check Services help you increase sales and manage risk by enabling you to accommodate customers who write checks. The Small Business Authority provides a wide variety of state-of-the-art equipment options to accommodate check services. The following is a list of check services available at the point of sale.
Check Verification protects you from returned checks by identifying consumers who have recently conducted unusual levels of check-writing activity and who are listed in a nationwide database of “bad check writers.” Quick and descriptive responses will appear right on your point-of-sale terminal, noting any problems or warnings.
Check Guarantee ensures that any check assigned an approval number will be paid. Simply scan a customer’s check through a special reader—similar to the way you swipe a credit card—or enter the customer’s checking account information into your credit card terminal. Within seconds, the check writer is compared with a database of millions of records, and an approval decision is issued. You decide which checks to seek guarantees for. For example, you would probably seek to obtain a guarantee on an out-of-state check rather than on a repeat customer’s check.
If an approved check does not clear the bank, you are quickly reimbursed for the full amount of the check.
Check Conversion verifies check writers through a reader on your credit card terminal. Check Conversion gives you the ability to:
- Verify check writers through both positive and negative databases.
- Convert checks into electronic items.
- Reduce bank charges.
