Introduction to Check Verification
Introduction to Check Verification API
Purpose
The Check Verification API was developed with the purpose of mitigating risk associated with the acceptance of ACH and check payments. The API allows organizations to verify account validity check-writing history, routing numbers, and in some cases fund availability.
Use Cases
The Check Verification API is most commonly used by organizations who have or expect to have an unacceptable level of ACH or check returns. These same organizations may also be in highly regulated industries that require the fulfillment of service upon payment acceptance.
The most common example of the use of the Check Verification API can be found within the insurance industry. Insurance companies, especially auto insurance providers who must temporarily supply service regardless of the return of a payment, use the Check Verification API to reduce the risk associated with the most common return types (NSF's, Account Closed, and Unable to Locate Account, and Invalid Account). To do this, a combination of ATM/NCN, ForeWarn, and Live Verify is utilized.
Requirements
The Check Verification API requires a license number provided by the Check21.com team.
Organizations which wish to use the ForeWarn service for account validation must comply with strict guidelines provided by Check21.com, including but not limited to providing customers who fail validation with notification detailing the steps necessary to resolve such failure.
Important Notes
In March of 2021, NACHA, the organization governing ACH payments will require that all ACH data collected via WEB be validated. The Check Verification solution allows organizations to adhere to this policy.
Next Steps
As a next step, organizations seeking to use the Check Verification API should first become familiar with the types of verification services available. To do this, please visit Verification Services Offered.
Updated almost 4 years ago