Wouldn't it be great if you knew that a check was bad at the time of presentment? If you knew the check being presented was drawn on a closed account, had counterfeit activity, or had a high probability of return?
TrueChecks is an easy-to-use web application that delivers powerful real-time check information at the time of presentment. TrueChecks delivers real-time responses on counterfeit, NSF, Closed Account, Duplicate, and many other fraudulent items. The TrueChecks database is comprised of data from financial institutions, processors, core banking, and optional third-party sources.
Around the United States, a typical financial institution sees 1-2% of their checks as problematic items. These are the items returned as Altered/Fictitious, Closed Account, Forgery, and for many other reasons. This small percentage makes check fraud a "needle in the haystack" and TrueChecks will identify these items before accepting them for deposit. And while the percentage is low, the amounts of these checks really add up quickly. If 1% of your organization's items equates to 25 checks, and each check is written for $1500, then you can see that these 25 checks quickly add up to very expensive losses for your financial organization. This is why it's so important to use TrueChecks at the time of presentment to prevent check fraud before accepting the item for deposit.
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