Check Services

These services will help you increase sales and manage risk by providing you with the ability to accommodate check writing customers. The following is a list of check services available at the point of sale. Newtek provides a wide variety of state-of-the-art equipment to accommodate these services.

Check Verification protects you from returned checks by identifying consumers who have recently conducted an unusual level of check-writing activity and who are listed in a nationwide database of "bad check writers." Quick and descriptive responses will appear right on your point-of-sale terminal noting any problems or warnings.

Check Collection maintains your customer relationships by having industry professionals collect all of your returned checks.

Check Guarantee ensures that any check assigned an approval number will be paid. Simply scan a customer's check through a special reader -- similar to the way you swipe a credit card -- or enter the customer's checking account information into your credit card terminal. Within seconds, the check writer is compared with a database of millions of records and an approval decision is issued. You decide for which checks to seek a guarantee. For example, you would probably seek to obtain a guarantee on an out of state check but not on a repeat customer's check.

If an approved check does not clear the bank, you are quickly reimbursed the full amount of the check. Check Conversion verifies check writers through a reader on your credit card terminal. Check Conversion gives you the ability to:

• Verify check writers through both positive and negative databases
• Access velocity files -- (Merchant Controlled File)
• Convert checks into an electronic item
• Reduce bank charges
• Receive backing of a guarantee