Most check verification services have their own information. Some use negative databases, others use retail network records, and others have proprietary data that is independently obtained.

BetterCheck is a check verification service that uses the actual account data from the issuing bank as of the beginning of the business banking day. 

What does that mean? It means that rather than base the decision to accept or decline a check from your customer because of a bad check problem they had in the past, you can instead base the decision on the current account status.

Some check verification systems won't approve a customer just because they have not written checks through their network before.  This could cause you to turn away a customer with a good payment.

When evaluating check verification services, you should look at how many checks you accept per month and what you bounced check percentage is.  If you know this information, you are one step ahead.

In most retail settings, a 1% bounce check percentage is considered average. Having a bounce check percentage under 1% is exceptional.

So what if you have a bounced check percentage that is 2% or higher?  Over 2% bounces is considered excessive, and your bank may start to take more action than just charging fees to your account if you cross that line. 

BetterCheck is designed to reduce your bounced check percentage by 50% or more. This means if you have a bounced check rate around 3% you can expect this to dip to 1.5% or less just by starting to use a check verification service.

If you have a new business and a high bounce rate, you will want to closely examine your overall check acceptance procedure as there are key factors you can note that will drastically reduce the number of bad checks you deposit.

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