Don’t keep them waiting. Verify that the funds your customers are depositing, regardless of channel, are valid in real-time.
HOW IT WORKS
Customer makes a deposit
Customer places a check deposit through ATM, teller, or mobile channel.
The depositing bank submit an inquiry to Early Warning’s database in real-time seeking information on the deposited item to determine its risk profile.
Early Warning Response
Early Warning responds with insight on the account status, type of account and the potential risk of accepting the incoming deposited item to assist in determining whether to accept or decline the transaction.
Our Deposit Chek® Service solution helps you to answer the following questions in real-time:
Is this person authorized to transact on the account?
Does the payer’s account exist? …and is it in good standing?
Is the account in a closed, NSF or other high-risk status
Has a stop-payment been placed on the item?
What is the likelihood of the item being returned?
Is the item a potential duplicate?
Deposit Chek® Service also helps you:
Enhance the customer experience
Reduce losses associated with “high-risk” deposits
Couple our Deposit Chek® Service with our Identity Chek® Service to enable fast, safe and easy customer interactions. Our identity solutions enable accounts to be opened with more confidence and mitigate fraud at the front door.
WEB debit entries continue to increase in popularity and have historically been susceptible to fraud. To combat the rising criminal activity, the rule requires businesses to validate a consumer's bank account information when initiating an ACH debit transaction.
Early Warning delivers high assurance and real-time identity confidence for both sides of commerce transactions, enabling Zelle® to become the most trusted payment method of commerce. Best of all, money can move faster and more securely.