How Do Electronic Check Verification Systems Work

<p> by Elizabeth Murrow </p> <p> &nbsp; </p> <p> &nbsp; </p> <p style="margin-bottom: 0in" align="justify"> <font face="Arial, sans-serif"><font size="2">No one likes to write bad checks. Customers who write bad checks and businesses who have to deal with these spend a lot of time and money in handling them. But there is no need to worry. A check verification system will help you completely eliminate if not reduce the number of bad checks that go through your business. </font></font> </p> <p style="margin-bottom: 0in" align="justify"> <font face="Arial, sans-serif"><font size="2">There are two types of electronic check verification system. One system compares checks to a negative database of bad check records. The check is swiped through a check reader wherein the bank account information is read and electronically transmitted for comparison. If there are delinquent bad checks, the merchant is notified right away and can then decide whether to accept the check or not. The second type of system not only compares the checks but the client&#39;s bank accounts as well to determine if there are sufficient funds. </font></font> </p> <p style="margin-bottom: 0in" align="justify"> <font face="Arial, sans-serif"><font size="2">If you already have a point-of-sale software that you use for your business, look for a check verification system that is compatible with your current system. An electronic check verification service will help your business prevent fraud and minimize problem checks prior to acceptance. Checks are verified before it is accepted and processed and merchants are able to determine whether a customer has written any bad check. Verifications also allow for a quicker and safe check transaction. </font></font> </p> <p style="margin-bottom: 0in" align="justify"> <font face="Arial, sans-serif"><font size="2">Moreover, electronic check verification systems substantially reduce fraud and NSF returns at the point of sale. Eliminating the acceptance of bad checks will then help in increasing sales profit. The system will help your business make accurate, reliable and profitable check processing. </font></font> </p> <p style="margin-bottom: 0in" align="justify"> <font face="Arial, sans-serif"><font size="2">Depending on your provider, verification systems can vary from one to another. Basically, each type of check verification system offers its own features suitable for the type of business that you have. Find a system that is customizable and easy to integrate at the same time, provides the latest technology suitable for your business&#39; needs.</font></font> </p> <p style="margin-bottom: 0in" align="justify"> &nbsp; </p> <p style="margin-bottom: 0in" align="justify"> (<font face="Arial, sans-serif"><font size="2">Elizabeth Murrow currently works for a payment processing solution company. Being in the business for quite a long time now, she has been continuously sharing her knowledge through various lectures and blogging, including <a href="http://allaboutecheck.wordpress.com/">http://allaboutecheck.wordpress.com</a> and http://www.echeckprocessing.biz. Born and raised in California, Elizabeth now lives in Australia with her husband and two kids. She likes to travel during her free time.)</font></font> </p>
 
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