People or companies that write bad checks tend to get a bad reputation in the merchant services industry. There are seldom things more frustrating than receiving a bad check or other form of payment for goods and services tendered. CheXshield and Virtual Check are taking a stand and fighting back against these violators.
CheXshield has a national database containing information that is cross referenced against your submitted forms of payment. All checks submitted through Virtual Check’s Virtual Terminal are immediately scrubbed to make sure that the submitted information is valid, not from a known offender, and that payment is from a bank account with a positive balance.
Still skeptical? Studies have shown that 75% of bounced transactions could have been prevented if the checks were verified through a check verification system.