What is a check verification company?
These are companies that provide deposit account verification services to its members to assist them in identifying applicants or customers who may have a history of account mishandling. This includes, but is not limited to “bad check” writers and repeat overdrafters. Some companies offer multiple services such as check conversion, check guarantee, check verification, and collection services.
These are companies that provide deposit account verification services to its members to assist them in identifying applicants or customers who may have a history of account mishandling. This includes, but is not limited to “bad check” writers and repeat overdrafters. Some companies offer multiple services such as check conversion, check guarantee, check verification, and collection services. Check verification companies are subject to the Fair Credit Reporting Act. If they offer collection services, they are also subject to the Fair Debt Collection Practices Act and other laws. The Federal Trade Commission enforces these laws.
