Verify Deposit

Verify Deposit

Prevent deposit fraud loss

Verify Deposit (formerly known as Deposit Chek® Service) leverages account deposit data contributed from 2,500+ financial institutions to help balance your consumers’ expectations for immediate availability of deposited funds with your need to guard against losses due to fraudulent, high-risk, counterfeit, or duplicate items.

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Watch the Verify Deposit video

In 2022, a bank with 7MM DDAs using real-time Verify Deposit was alerted to an average of $75M in potential fraud loss on responses including status verification, duplicate item, stop payment, high-risk, counterfeit and treasury high-risk items.

Source: National Shared Database SM Resource Report, 2021

All the capabilities you need to accelerate funds availability.

Enhanced Verify Deposit tools:

ADVANCED ACCOUNT RESPONSES

Account status: Indicates the open, closed, or overdrawn status of the external account as well as whether an item is drawn on a new account credit card, brokerage, or other type of account.

✓ Data provided:
Summary of status codes

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DUPLICATE AND COUNTERFEIT ITEM DETECTION

Helps detect possible counterfeit and duplicate items through transit, ACH activity and accounts with recent return activity, improving confidence and risk management of associated deposits.

✓ Data provided:
Item-level response

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MACHINE-LEARNING MODELS

Provides unparalleled visibility into the return risk associated with ACH and paper check transactions, as well as the historical status for transactions drawn on contributing and non-contributing accounts.

✓ Data provided:
Predictive score

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ACCOUNT OWNER AUTHENTICATION

Provides confirmation that the inquiry account data matches to an account owner or account signer.

✓ Data provided:
Yes or No response

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Understand risk where it occurs

Verify Deposit analyzes daily transactions among both contributing and non-contributing organizations. It delivers a comprehensive response to financial institutions, reflective of historical account activity (account status, returns, overdrafts, and ACH), allowing them to assess transactional risk with high scrutiny and precision.

Verify Deposit use cases

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NEW ACCOUNT FUNDING

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ACCOUNT OWNER AUTHORIZATION

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US TREASURY API INTEGRATION

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ACCOUNT LINKING

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FUNDS TRANSFER

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DEPOSIT SCREENING

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ACH

What it solves

Verify Deposit helps to prevent fraud and expedite funds availability decisions at the teller window, new account desk, image-enabled ATM, and in the online and mobile environments.

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The Early Warning® Advantage

Leverage 30 years of experience to enhance your new accounting opening strategy, verify deposits and payments and make informed decisions.

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Robust data

Early Warning is the Trusted Custodian® of the National Shared DatabaseSM Resource which contains a rich set of data, ensuring our information is always up-to-date.

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Scalable technology

Grow at your own pace! Access our capability bundles through a simple API. Implement once – and quickly deploy additional capabilities in a snap.

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Rich analytics

Our risk assessment algorithms incorporate comprehensive, cross-institution data sets, adding depth and perspective to insights.

Early Warning is the Trusted Custodian® of the National Shared DatabaseSM Resource – which contains a rich set of deposit performance data contributed by more than 2,500 financial institutions including banks like:

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Let's talk about how we can grow your financial institution

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