Regal Technologies Check Verify

The Regal Technologies CheckVerify suite of check verification services offers access to national check verification databases to satisfy multiple business models. The benefits of the various CheckVerify services is to reduce the losses due to bounced or invalid checks, reduce costs, and increase the efficiency of check processing for merchants.

Who it's For

Check Verify is designed for use by merchants that:

• Want to accept checks and decrease the risk of NSF or fraud.
• Want notification of a closed or invalid checking account before payment processing.
• Want a history of bad check and stop payment occurrences for a specific check writer.
• Want to know that the checking account has positive funds before payment processing.

How it Works

With a simple Internet connection a merchant can access their CheckVerify webpage. The merchant chooses which of the three main databases to check. Utilizing a virtual terminal, the merchant can import a batch file, manually enter, or use a check reader to input the check MICR. Within seconds the merchant will receive a response from the verification network(s). Optionally, the merchant may also enter the check writers driver’s license number for verification of check and historical tracking of past check writing.

The Service consists of a data file provided by the Third Party Service Provider to Affirmative designed to assist users with the analysis and validation of routing number and account configurations to improve the accuracy of ACH transaction processing. The Service is a set of electronic files containing a comprehensive listing of financial institutions in the U.S. and electronic payment processing information. The data contained in the file includes a definitive database of ABA routing numbers, based upon the Rules of Eligibility of the American Bankers Association's Routing Number Policy. The file also includes account number structures and account repair algorithms to facilitate the conversion of check information for ACH processing. The ACH information provided allows users to facilitate the origination of payments as defined by the National Automated Clearing House Association, (NACHA).