Check Verification

EnCircle provides resellers and their merchants with the most powerful program for check verification available today for check conversion allowing complete control over the database and risk operation.
Negative File Verification Services- When a fraudulent check is presented for payment, the speed at which the "negative" return information is transmitted back to the merchant is vital in preventing future losses. In addition, updated negative file information is critical to ensure the desired acceptance of new check transactions when a customer makes good on the original returned item. Traditional paper check processing through the banking system can take 7-14 days to report a return item to a merchant. Likewise, the time involved in providing updates to negative file records for paid transactions -so that new check transactions can be accepted- can take an additional 7-14 days due to the manual return process involved with paper check processing.

The speed and accuracy at which negative file information is updated is greatly improved when utilizing EnCircle's check conversion verification service due to the automation of the returned and collected data. With all types of check conversion applications, "negative" file data is updated within 72 business hours, thereby greatly reducing the exposure to further losses and greatly improving the ability to accept new check transactions when returned check transactions are electronically paid.

Velocity Verification Services -EnCircle velocity verification allows both the merchant and merchant acquirer to further protect itself against associated check acceptance risk. This service permits administration of transactions through pre-determined criteria, generally based on industry and average transaction ranges. Velocity parameters allow for a positive file capability at both the merchant and consumer level including the ability to "flag" an account for special privileges.

ACH Verification and Authentication - Certain types of checks are not permitted to be processed via the ACH network. These include Third Party Checks, Money Orders, Travelers Checks, Cashier's Checks, Official Checks, certain Investment/Brokerage Account Checks, Credit Card Balance Transfer Checks, government checks, US Treasury checks, checks drawn on corporate or business deposit accounts and accounts with ACH Debit Blocks, among others. EnCircle provides a real-time database that helps to ensure that items accepted at the point of origination are able to be electronically processed. For check information that is not accepted with the use of a check reader (MOTO and Web transactions) EnCircle also provides additional databases to authenticate and verify bank and account information further protecting the merchant against returns.

Custom Verification Services- EnCircle also gives individual merchants extensive customization capability including real-time links to existing negative and positive file verification systems. EnCircle can verify checks using the MICR data on the check or one of 5 possible forms of ID as the merchant may require.