CrossCheck Blog

Check Processing & Payments Information

Check Verification vs. Check Guarantee

If you've ever wondered about the difference between check verification and check guarantee services, then imagine this scenario: a customer presents you with a check to pay for goods or services rendered. Whether you’re in the finance department of an auto dealership; a veterinarian caring for a sick dog; or a heavy equipment dealer receiving payment from a contractor building a new apartment complex, the payment you receive is crucial to the continued success of your business. You inherently trust the person giving you the check but you’d like to know – to whatever extent possible – that the funds will reach your bank account without any trouble. Trust…but verify, which is the very reason that check verification and check guarantee services exist.
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CrossCheck Helps Reduce the Risk of Accepting Checks

on Wed, Sep 23, 2020 @ 07:45 AM By | Mike Harris | 0 Comments | Check Fraud Small Business
With an increasingly uncertain world, the pace of change is swift and becoming more rapid. This is why risk management is more important than ever before, and adaptability by companies is key. Businesses must balance the need to be open for commerce while taking measures against the extra financial risk in the marketplace. This is the essence of our business model — CrossCheck helps reduce the risk of accepting checks so your business remains whole as it conducts commerce. Not every negative event can be avoided, but the right approaches will allow companies to respond effectively in crisis situations and potentially even thrive. Furthermore, businesses must find a way to simultaneously safe guard against COVID-19 in 2020 while avoiding financial risk.
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Profile of a Bad Check Writer

on Mon, Jun 17, 2019 @ 12:45 PM By | Harrison Friedes | 0 Comments | Check Fraud
Businesses that accepts checks as a form of payment without a check guarantee service should certainly concern themselves with the question, “Who writes bad checks?” These merchants want to avoid accepting bad checks, and they can decrease the likelihood of doing so by better understanding who’s writing them and which check writer characteristics should be monitored.
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The Lifetime Value of One Declined Check at Your Auto Dealership

on Thu, Sep 21, 2017 @ 12:49 PM By | Sara Holt | 0 Comments | Check Fraud Auto Dealerships C.A.R.S.
Many people prefer paying by check according to the 2016 Federal Reserve Payments Study. Checks declined by processing companies harm auto dealerships where losing a sale to just one declined check can have far-reaching consequences. For example, one declined check for a downpayment could result in the loss of three sales equalling a total of $146,000 if several values are considered (see the below infographic).
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Choosing a Business Check Printing Provider for Security

on Fri, Jul 14, 2017 @ 11:32 AM By | Jessica Beaudry | 0 Comments | Check Fraud
For most U.S. merchants, business checks remain the primary payment tool used in routine business transactions. Due to the constant threat of check fraud, it is crucial for owners of both new and established businesses to understand and identify the various forms of fraud. To better protect businesses, merchants may utilize the latest and most effective check security features offered by top business check printing providers.
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How Do I Prevent Returned Checks?

on Mon, Feb 29, 2016 @ 07:00 AM By | Joe Gargiulo | 0 Comments | Check Fraud Check Guarantee
Americans love figures of speech and proverbs, especially those expressing a level of wisdom assumed by the speaker. Some people say “shoulda coulda woulda” while others believe “almost only counts in horseshoes and hand grenades." “Good night and good luck” was introduced by Londoners bidding farewell the night before 1940 Luftwaffe bombing raids, and later assimilated by American radio legend Edward R. Murrow. That sense of finality, however, was best captured by Benjamin Franklin: “In this world, nothing can be said to be certain except death and taxes.”
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Criminals Make Auto Dealer Prioritize Check Acceptance Policies

on Sat, Sep 26, 2015 @ 07:00 AM By | Tom Lombardo | 0 Comments | Check Fraud Auto Dealerships C.A.R.S.
In 2012, a Chicago area man plead guilty to writing twenty-four worthless checks to auto dealerships, including ones in Illinois and Wisconsin that lost over $70,000. And he's at it again. 
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The Cost of One Bad Check

on Tue, Jan 13, 2015 @ 11:29 AM By | Tom Lombardo | 3 Comments | Check Fraud
The Cost of One Bad Check
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The Best Way to Handle the “Stop Payment” Risk

on Wed, Oct 29, 2014 @ 10:00 AM By | Kevin Walli | 0 Comments | Check Fraud
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2 Check Fraud Methods Eating Away at Merchant Profits

on Tue, Sep 23, 2014 @ 10:00 AM By | Brandon Weaver | 0 Comments | Check Fraud
Have you ever been frustrated to get a red-alert email or call from your bank warning you of credit card fraud? I have, and while I am grateful for the precautionary steps the bank took in order to protect my account, it’s frustrating at the same time. First, because I was the victim of fraud. And second, because when they issue me a replacement card I have to re-save the new card information with all the online merchants I do business with.
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