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NACHA Rule |
Follow the rules and lose less
- Never take business checks from individuals unless you know the business and the individual.
Business checks are not eligible for electronic representment. With available software, virtually
anyone can produce a business check.
- Always get a picture ID with every check written.
- Get a physical home address, home phone and work phone number. This makes it easier to contact
the bad check writer to collect your money.
- Use a check verifications system. Although not perfect, it is better than not doing it at all.
Be sure you use the check collection agency verification system. If they are any good at all,
they will be able to provide verification and have the check writers in their system that have
unpaid checks out.
- Do not accept third party checks. The check holder may not have permission from the account
holder to have the check (it may be stolen). Besides, why aren't they cashing it at the check writers bank?
- Don't accept checks with low check numbers unless you personally know the check writer.
These are new accounts and there has not been sufficient time for the bank to know them either.
- Have a camera at the point of sale. Forgery, fraud and bad check writers do not want their
picture taken. A video camera conspicuously placed will deter most dishonest people.
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