Cheque-Check provides check acceptance and collection solutions for organizations. This facilitates increased sales, while managing the risk at the point-of-sale when cheques are presented.
Not only will you see returned cheque history on all bank accounts where such history has been reported to us, but you can also view credit rating and other important information at the same time. This provides improved information to manage the risk of accepting cheques.
Subscribers can report bounced cheque information through WIRE and immediately affect the credit rating and ability to have cheques accepted from the entity that they have reported receiving the bounced cheque from. Bounced Cheques can be assigned for collection easily and speedily, thus reducing the lag time involved in the collection process. Settlement of bounced cheques is reported on-line, resulting in the restoration of credit once the cheque is settled and all outstanding fees are paid.
WIRE integrates the “Cheque-Check” module into the existing Credi-Check application, providing a user-friendly and low cost means of cheque verification and bounced cheque collection. This reduces the cost and inconvenience of bounced cheques, with no need to lease separate scanners or other specialised hardware. WIRE is a powerful tool to reduce the incidence of accepting bad cheques, and to improve the speed at which these cheques are settled.