Bank Account Verification

Your bottom line depends on the ability to capture and process customer payments. When your business requires accurate, valid banking information up front, it pays to be proactive. For the most up-to-date and insightful bank account information, smart companies turn to DataX.

Bank Account Verification minimizes financial losses and protects your company against attempted fraud. It validates account status in real time before submission of payment processing, reducing losses from inaccurate data, returned items and fraudulent transactions.

This comprehensive solution reaches beyond traditional bank account verification tools that only check account status. Bank Account Verification checks status and returns a broad spectrum of detailed positive and negative account information that includes:
 

• Closed account
• Non-transactional account
• Account not located
• Repeat offender of NSF
• Open valid account
• Account in NSF status
• Non-DDA
• Stop payment

 
Unlike shared negative databases that do not post information until they have the returned check data, DataX’s Bank Account Verification reflects account status at the end of the financial institution’s prior day’s processing cycle so you always have the most accurate information.

Avert Losses from Fraud and Identity Theft

Additionally, DataX’s Bank Account Verification provides an early warning fraud alert at the point of sale, which safeguards against potential fraud and reduces the likelihood of unpaid items being returned. Bank Account Verification helps protect your business from costly financial loss by strengthening your ability to identify possible fraudulent transactions up front.

With DataX Bank Account Verification, you can protect your business by taking preventive action:

• Prevent errors at the point of capture
• Reduce costs associated with returned items and collections
• Verify the legitimacy of a bank account and routing number
• Identify potential fraud before it occurs
• Increase customer confidence through proactive verification

 
The Bank Account Verification service is a proven way to protect your company as well as your customers. By partnering with DataX, you can be confident that your business transactions are profitable and secure, while ensuring your customers that you are looking out for their interests.
 
For more information please contact us.