Our check verification services can be utilized by banks and small businesses of all types. We support just about every industry and provide a virtual terminal (online software) that will allow you to verify checks routing number and bank checking account with ease. All this is done on a secured website that you log onto. The service is available to you 24 hours a day. Every year, businesses that process checks end up losing lots of money due to Non Sufficient Finds or what is referred to as NSF/Bounced Checks. The NSF fees range from $25 to $45 per check. If you are a high volume check or ACH merchant, you could be losing a lot of money in NSF fees.
We go a step further by not only providing a way for you to verify if a checking or savings account is valid, you can verify whether an account has a positive dollar amount. If you want to debit a customer’s account in the amount of $150, you can ping the account to see that amount would be available to clear but this does not guarantee that the check will actually clear as the customer can withdraw funds before the amount is debited from their account.
What you can expect from our checks verification services is that you will be able to verify bank routing number by the financial institution that issued the account as well as the branch. You can lookup the ABA number as well as the ABA transit routing numbers. You can even lookup MICR numbers and the platform works with personal checking accounts, savings and business accounts.
We currently help more than 2,000 financial institution (which includes several fortune 500 companies), collection agencies and government agencies to verify bank routing numbers by mitigating risk and increasing the effectiveness of their operations. Verification is done in real time to help you make the best informed decision.
The ABA number is the number, usually 9 digits, that identifies the bank that issued the account to the customer. This system is strictly a US based system that has been in use sine 1911. It is sometime referred to as the routing transit number (RTN). The same system is used by the Federal Reserve Banks as well the Automated Clearing House for Fedwire and ACH deposits. This system was started by the Bankers Associated in 1910.