ACH Check Verification

ACH (Electronic Check) can be a very cost effective and efficient form of payment. However, much like accepting a paper check, an ACH payment can be returned if the Payer’s account has been closed, is over-drafted or sufficient funds are not available.

By instantly and electronically accessing multiple shared banking databases, TELEDRAFT verification tools can determine whether it is likely that the ACH debit will clear the Payer’s account and be successfully processed.

TELEDRAFT offers three optional verification solutions:

ReliaCHEK

ReliaCHEK utilizes one of the largest “National Shared Bank Databases” wherein the majority of the nation’s banks share information on their demand deposits. Once the Payer has provided their name and account numbers, ReliaCHEK instantly queries the National Database in order to locate the Payer’s checking account and determine whether that the account is open, in good standing and has a positive account balance. Wherein ReliaCHEK cannot guarantee that the funds in the account are ample to cover the payment at the time the payment clears the Payer’s bank, a positive response relative to the account being utilized is a very good indication the payment will be successful.

AssureCHEK

AssureCHEK utilizes the nation’s largest shared database of negative check writers and checking account data. Banks report daily to this database the names and account numbers of depositors who have over-drafted their account at present or who chronically over-draft their accounts. A listing of closed accounts or accounts where fraudulent activity has occurred is also provided. The appearance on this database is indicative of an individual or account in a condition or with a history indicating that the payment is unlikely to successfully clear the Payer’s bank. Therefore, a negative response from AssureCHEK indicates that the payment should not be accepted in good faith.

TotalCHEK

TotalCHEK is a unique application wherein the verifications of ReliaCHEK and AssureCHEK are completed in tandem. Therefore, TotalCHEK can give the merchant the highest possible degree of confidence that the payment will successfully clear the Payer’s account.

There is no expense, investment or resources required to activate any of the verification solutions. They act upon receipt of the payment by the TELEDRAFT System. Therefore, utilization of the TELEDRADFT Web Services API or Gateway will facilitate the verification services. They can be activated or deactivated at the merchant’s option.

Let our Technical Sales Specialists assess your individual needs and assist you in devising and deploying an optimal payment solution.

Call us at 1-800-701-4723 or email us at info@teledraft.com, or apply for a TELEDRAFT account now.