Echeck Processing: 5 Ways To Foil A Bad Check

by Kay Fione      Have you ever received a bad check, or one which was stamped” Insufficient Funds” by issuing bank when you tried to cash it? We all do. We fall victime to this misfortune in some point of our lives. While we can collect our money on some bad checks, majority of these bouncing check remain as losses. Their owners will never bother to pay us their dues despite our best efforts to collect.      But now we can fight back. Legally, that is. Though we can not completely stomp out these bouncing checks, at least we can do some positive measures to protect us . One excellent way is having echeck processing and converting these paper checks into its electronic format. Below are additional experts advice on ways to foil a bad check.   <ol><li>DO NOT ACCEPT CHECKS FROM STRANGERS This is self-explanatory. Accepting a check from total strangers could be risky. There would be no way of contacting them when their check bounces. In other words, we could no longer collect. If ever they scribble their signature, as well as their contact information at the back of the check, chances are that these are phony. To avoid any hassles, make it a point not to accept checks from strangers. </li><li>DISCREETLY ASK FOR ANY ID When somebody issues you a check, politely ask for any identification to verify that they are really own the check. Take note of the signatures in the identification and on the check. If these two signatures do not match, then that should serve as warning flags. </li><li>ENSURE THAT ALL FIELDS ON THE CHECK ARE PROPERLY FILLED OUT The most telling sign of a bad check is that it has several fields left out. In other words, it's done in a hurry. But this not really a hard and fast rule.There are times when good checks are written with a many fields blank. Also, there are times when properly filled out checks turn out bad. Rule of the thumb is, accept the check if you know well the individual. You can collect if the check bounces. If you don't know the person issuing the check, then politely refuse it and ask for other forms of payments like cash or through credit cards. </li><li>SUBSCRIBE TO ELECTRONIC CHECK PROCESSING Echeck processing service contain powerful security protocols which can detect bad check in real time. The check verification services scans the checks against a national data base of bad check issuers. When you run the check in a check reader, the equipment will give alert messages regarding the status of the check in real time. </li><li>CHOOSE YOUR PROCESSOR WELL Some echeck processsing companies could mulch you dry with exorbitant fees and charges. Others have dismal services. You should carefully choose your echeck processor so that it could give you the necessary services. Factors to consider are stability, how long a company been in business, and their track records, among others. Accepting checks remain as one of the most flexible payment options in this high-tech age. It's just sad that some unscrupulous individuals will defraud us by issuing bad checks. However, if we stay alert, vigilant, and get echeck processing service, we can effectively protect ourselves from the financially debilitating effects of these bad checks. ( Kay Fione is an electronic banking authority with years of solid experience. She finished her Banking and Finance course as an honor student at the University of Minnesota. She currently works as an executive in an Australian bank. She also serves as business consultant for several echeck processing companies, including <a href="http://www.echeckprocessing.biz/">www.echeckprocessing.biz</a>. She loves snorkeling and writes business articles on her free time. Kay lives with her husband and four kids.)</li></ol><a href="http://www.onlywire.com/submit?u=http://www.echeckprocessing.biz/echeck_processing_5_ways_to_foil_a_bad_check.html;t=check%20processing;tags=Check%20processing" target="_blank" title="Add this Article to Onlywire"><img src="http://www.onlywire.com/i/onlywire.ico" alt="" />Add to Onlywire!</a>

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