Fraud Protection Tools
Early Warning® Services DEPOSIT CHEK® Inquiry
DEPOSIT CHEK® Inquiry provides credit unions with daily warnings of potential
return items—and the likelihood of their return—on items deposited the previous
day.
Catalyst offers Early Warning Services’ DEPOSIT CHEK service to provide member credit unions
next-day notification of high-risk deposits. DEPOSIT CHEK helps prevent fraud and expedite funds availability decisions.
Most major financial institutions contribute daily account status updates to the
DEPOSIT CHEK service. When a deposit or payment is presented at the credit
union, an inquiry on the item is initiated to DEPOSIT CHEK's national shared
database of accounts. The item is reviewed for account status and authenticity
of the account owner. If factors point to a potential return, Early Warning
issues notification to the credit union, identifying the reasons. The credit
uinion can use the information to decide what action to take next.
This service is also available with real-time notification (DEPOSIT CHEK Reader).
To put this service to work for your credit union, email an account executive at contactus@catalystcorp.org or call 800.442.5763.
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