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Check verification service

Check verification service Definition

A check verification service is a business whose primary work can be defined as essentially maintaining two relational databases: one of personal identities, and the other of bounced checks. They offer their services on a subscription basis to retailers and financial institutions, and their functionality is usually accessed either by telephone or internet. Some banks bundle a level of this service with a business checking account or with a bankcard acceptance program. Some check verification services also offer collection agency service for the civil prosecution of check fraud. Trade names this service is offered under in the U.S. include TeleCheck, Certegy, WelcomeCheck, ChexSystems, SCAN, and Verified.



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