Table of Contents:
- What is ACH check verification?
- Why is it necessary?
- Mitigating onboarding risk
- Credit card authorization vs ACH verification
- Functions of ACH Verification
- Automated Routing Number Check
- Negative Database Options
- Real-time Inquiries into Current Checking Account Status
- Checking Account Balance Inquiries
- Case Study
- Payment Rejects
- Issues to Address
- Third Party Services
- Pricing information
- Additional Checking Account Verification Resources
Businesses can significantly reduce payment acceptance risk with electronic check verification tools by performing real-time validation of a customer’s bank account, ensuring that the account is active with a positive funds status.