www.achdirect.com
500 W. Bethany Drive, Suite 200
Allen, Texas 75013
p: 866.290.5400
f: 972.396.5006
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ACH Direct offers a comprehensive suite of risk management tools. One of our most powerful prevention tools in the fight against bad check writers is ATMVerify®.
ATMVerify® offers two distinct levels of verification. At the highest level of verification (Level 1), ATMVerify® is able to verify in real-time, through a direct electronic query to the check writer’s financial institution, if the checking account currently has sufficient funds to cover the amount of the presented check. At the next level of verification (Level 2), ATMVerify® is able to determine if the account is, as of opening of that business day, an open, valid account with positive funds. If neither Level 1 nor Level 2 verification produce results, ATMVerify® can be set to query one or more of the largest negative databases of known bad check writers.
ATMVerify® can be used at the point of sale, for Web or telephone-based transactions, and a variety of other methods where checking account verification capabilities are needed. ATMVerify® can be integrated with your existing systems, shopping cart software or any of our software products such as VirtualTerminalTM, DirectBillingTM or SoftTerminalTM.
ATMVerify® Applications
- Check acceptance at retail (point of sale)
- Bill pay (utilities, mortgage, insurance, etc.)
- Online orders
- Telephone or mail orders
- Credit card companies
Level II Features
- Participation by most major financial institutions
- Account information updated each business day
- Identify open valid accounts
Level I Features
- Automated real-time sufficient funds verification
- Also identifies closed, frozen and non-existent accounts
- Growing list of participating financial institutions
Real-Time Check Verification
- Reduce bad check acceptance
- Two levels of verification
- Largest source of account information in the world
- Sub-six second response times
- Batch mode option for large volumes
In the past, check verification services have been limited to large negative databases of known bad check writers combined with infrequently updated databases of known good accounts. This method of loss prevention has had very limited success as check losses in the United States has steadily increased.
To determine which risk management products are right for your organization contact us or call 866.378.0001 today.