Merchant Funds Verification
Often called "verifying funds" or "merchant funds verification," it was common practice until recently that any business or individual could call the bank where the check was drawn and ask for check verification. The bank would ask for the account number, the name on the check, the amount and the check number and just look up the account.
Due to banks now issuing privacy policies designed to protect identity and fraud, telephone merchant funds verification by calling the bank directly is now rare for any bank or credit union to offer this service.
Some banks still offer merchant funds verification, while others are limiting the information they will provide to telling you if the account is open with a positive balance, only.
Other banks provide this service as a pay-per-call, or offer bank validation for a fee. The majority of banks do not provide any direct telephone account verification.
Read more about this topic: Check Verification Service
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