CrossCheck Blog

Check verification services provide merchants with recommendations on whether or not they should accept the checks they receive as payment. Check verification services are used to decrease the likelihood of returned checks. It’s an important merchant service because it is impossible to confirm whether or not checkwriters have sufficient funds to cover checks drawn on their accounts.

Miracles do happen and sometimes dreams come true, even with the magic check verification tool. A customer writes a check for $30,000 that a merchant prepares for deposit. After entering data into a check processing system, LED lights flash, and the paper check is slowly pulled into a desktop image. Only the trailing edge of the check is now visible beneath an interior green glow. After a few seconds of anticipated “techno-humming,” the check is slowly ejected. Meanwhile, the system displays details of the transaction, including the opportunity for the merchant to select “Submit for Approval.” The merchant returns the check to the customer who leaves with a smile on his/her face and their newly acquired purchase.

If you’re reading this, you know just how important it is to accept many types of payment because you never want to say “no” to a customer. This is exponentially important for purchases greater than $100 because checks are used for 1 out of 5 of those transactions.

If you’re looking for where you can get free check verification for your business you should know right up front that we haven’t found it either, for the simple reason that legitimate check verification services are not free.

Standards and regulations rarely inspire harmonious thoughts, but they do protect honest businesspeople from unscrupulous ones. Selling only products that meet standards may cause a few headaches, but ultimately your efforts result in safer and better structures for your community. That’s why businesses accept regulations – and even ask for them. It’s telling that industries approach the International Organization for Standardization (ISO) to request standardization. Leading entrepreneurs want standards so competitors can know that they’re on a level playing field and that claims of quality are legitimate.

Free online check verification can be yours in minutes! There's no cost, no hassle, and no service agreement and you'll be able to tell instantly whether there's money in the check writer's account to cover the check they just wrote you. Businesses and individuals can utilize this free online service to verify any check, for any amount, written by anybody, at any time. Did we mention April Fool's Day is today?

The Federal Reserve released its latest payment trend findings, some of which may come as no surprise. A variety of mobile payment solutions are quickly being adopted by consumers. But, if you think check payments are slowly becoming obsolete, think again. The 2013 Federal Reserve Payments Study states, “An estimated 18.3 billion checks were processed in 2012, with a value of $26.0 trillion.” With smart phones’ capabilities and technology continuing to improve, there’s no denying mobile payments and ACH transactions are increasingly popular, but checks continue to be in high demand.

Check verification and guarantee companies get calls almost every day from merchants who say that they want verification, but they’re unclear about the difference between verification and guarantee. Here’s a short definition of each. Verification: A merchant needs to verify that the check writer has a valid checking account and does not appear on a negative database that shows a history of failed payments. Verification is advice: The check verification company will either recommend you take the check or recommend you don’t take it. If it still bounces, the merchant takes the loss.

Controllers – are your top-line managers asking you to find additional payment options to make available to your customers? Great! The more ways people can pay, the more revenue your company may see. Are they asking you to secure these methods for free? Not so great. We developed this FAQ to dispel the “free check verification” hype.

The sign is up, the inventory is in, your staff is trained. You’ve done it - you’ve opened the doors to your new retail store and are ready to welcome customers. As a new business, in addition to forecasting sales and stocking shelves, you’re probably thinking about what payments to accept. For some business owners, it may seem that the best way to avoid the risk of a bad check is to not accept checks at all. But to do so means fewer sales and fewer customers, not exactly the best way to start off a new business. Maybe you’re considering a verification or guarantee service but aren’t quite ready to make a decision. Even without a check service in place, there are basic steps a store can take to reduce the risk of accepting a potentially bad check.