Verify Payment

Verify Payment  

Open more lines of credit

Verify Payment (formerly known as Payment Chek® Service) facilitates the ability to promptly mitigate non-sufficient funds and administrative returns by identifying high-risk payments and other account attributes through a single account inquiry in real-time.

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Watch the Verify Payment video

Verify Payment provides insights into the account status, type of account, account owner and risk scores to identify the potential risk of accepting the incoming payment. The solution analyzes daily transactions among both contributing and non-contributing organizations and delivers a comprehensive response, reflective of historical account activity (account status, returns, overdrafts, and ACH). All of which allows you to assess transactional risk with high scrutiny and precision.

All the capabilities you need to assess high-risk payments.

Enhanced Verify Payment tools:

ADVANCED ACCOUNT RESPONSES

Account status: Indicates the open, closed, or overdrawn status of the paying 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 reason codes

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DUPLICATE AND COUNTERFEIT ITEM DETECTION

Helps detect possible counterfeit and duplicate items through stop payment matches and accounts with recent return activity, improving confidence and risk management of associated payments.

✓ 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 Payment is the first and only resource to use timely, cross-industry account data contributed by a vast network of financial institutions (FIs) to help you mitigate the costly problem of check or ACH returns.

Verify Payment use cases

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SCREEN CREDIT CARD PAYMENT AND LOAN PAYMENT

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ACCOUNT OWNER AUTHORIZATION

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SCREEN OUTBOUND WIRE TRANSFER

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SETUP PAYMENT SOURCE ACCOUNT

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OUTBOUND DISBURSEMENTS

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OUTBOUND WIRES

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ACH

What it solves

Verify Payment facilitates your institution’s ability to promptly mitigate non-sufficient funds and administrative returns by identifying high-risk payments and other account attributes through a single account inquiry.

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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:

Bank of America, Capital One, Chase, PNC, Truist, US Bank and Wells Fargo

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

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