Protecting your business is on the forefront of every business owner’s mind. Fear of bad checks and the process that follows is definitely something to think about. You can take preventative steps in preventing NSF (not sufficient funds) checks. You and your employees should look for the following when accepting checks. Together, you can significantly diminish NSF checks from entering your business and having to call on a bounced check collection service.
- Be sure the customer’s complete name and address is on the check. Additionally, be sure the customer signs the check in front of you. A big red flag is a check with a signature on it before it is fully written. Be sure to check a form of ID to verify the customer’s name and signature. While it might seem inconvenient to the customer to ask for a form of ID and check it up against their check, this can save your business from needing to hire a bounced check collection
- What does the check look like? We’re not talking about the design or the color of the check, but the standard features of a check. Bounced check collection services look to see bank ID numbers, also known as a routing number, is at the bottom of the check.
- Is the date on the check current? You should not accept a postdated check. Also, future dates on checks should not be accepted.
- Do the dollar amounts match? Check to see if the numeric block and the written lines match up.
- How is the customer acting? While there is no exact guide to spot someone who is behaving fraudulently, your gut is a good guide. If the transaction seems questionable, definitely check forms of identification. If that still isn’t satisfactory, you can call the customer’s bank to verify a check. Again, while this practice might seem a little much, it could possible save you the time and the money on a bounced check collection service.
Taking the time to train your employees and stay up to date on safe practices can significantly decrease the heartache from a bad check later. While being vigilant is a great way to keep fraudulent or NSF checks away from your business, having a bounced check collection service in mind is another additional safe practice. Keeping in contact with one, or knowing who to call can help you solve NSF check issues sooner. Contact Global Check Recovery today to have some piece of mind and be ready if it ever happens!