Funds Verification

Funds Verification

Our comprehensive suite of Funds Verification services ensures maximum coverage for all your customers' bank accounts, and even their accounts associated with a debit card. Our Bank Account Status and Funds Verification (BASFV) service covers nearly 50% of all consumer and business utilized banks nationwide, or 80% of the active bank accounts in the country. Used in conjunction with Veri-Boost , you can obtain close to 100% coverage. Both services validate account balances, account holder information, and typically the specific fund amount needed to be confirmed.

How Can Funds Verification Help?

Using Funds Verification ensures that before you sell a product or service that the funds are available from your consumers bank account. Many businesses that receive installment or payments in the future will perform Funds Verification at the point of purchase, or just before the time they present an ACH payments to their processors or banks. This significantly reduces the chances that the ACH processing will create a negative balance or NSF fee to your clients. Funds Verification can also be used for identifying trends and patterns that indicate the financial status of your customers, and better predict if the customers' financial profile has changed.

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