NPPSI Services
What is Check Verification and Guarantee?
Check Verification is the process of presenting a check through a check reader where the MicroNumbers are read. The checking account number is then checked against a data base to ensure the account is in good standing. If the check is in good standing an approval code is provided and the check can be processed through normal banking processes.
If the check does not clear, the merchant is responsible for collections.
Check Verification with Collections. This is the same process as above, with the additional protection if the check does not clear, a staff of professional collectors will collect against the returned check. When the check is recovered by the collection staff, the merchant will be reimbursed for the full fave value of the check plus an additional $5.00!
Check Guarantee is the process of presenting a check through a check reader. The account number is check against a data base for derogitory history and fund verification. I the check is in good standing the image is sent to the bank for deposit. For this service a percentage of the check is paid to the check procesing company. The rates paid are in the rang of a credit card transactiona and determined by the type of business accepting the check.
Ask your sales rep which program best meets the needs of you company.
- Check Guarantee and Verification Programs
"NPPSI has a check program that actually pays a merchant for a returned check!"
