The Check Verification App was developed with the purpose of mitigating risk associated with the acceptance of ACH and check payments. The App allows organizations to verify account validity and/or check-writing history, thereby reducing check or ACH payment returns.
The Check Verification App is most commonly used by organizations that collect and store bank account data within the Salesforce ecosystem. In many instances, a client's financial institution requires a level of verification to ensure that the bank account information provided is valid prior to its usage (ACH debit or credit).
As an example of the App's usage, an organization will collect bank account data on a Force.com page or via API. The bank account data will be validated and its result provided back to the customer in real-time. Should the data be validated successfully, the organization then initiates an ACH payment for the balance due. Should the verification fail, the organization would alert its customer/prospect and deny its service to them.
Another function of the Check Verification App allows an organization to verify a customer's check-writing history to determine their worthiness. Most commonly, this service is used in combination with other solutions in an effort to build a risk scoring model.
The Check Verification App for Salesforce solely requires Salesforce. However, should a client decide to use Forewarn, an underwriting process will be initiated and approval required.
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.
Organizations who 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.
Before the Check Verification App can be utilized, it must first be installed and configured. As a next step, please view the section labeled Installing the Check Verification App.
Updated almost 3 years ago