Commercial Investigations Inc

 

ACA International
 


California Association of Collectors, Inc.
 
Commercial Investigation Association of America

 

 

 

      
 

Tips for Accepting Checks

Part of running any business is dealing with checks. If your business will accept checks from customers, here are a few guidelines to help prevent bad checks:

    • Check to make sure the address is printed on the check. A printed phone number on the check is also a plus.
    • Ask to see a driver’s license, state issued ID card, or a military ID card. Compare the picture to the person with the card, and make sure the names match from the ID card and the check. Also check to make sure the address is the same on the check as it is on the ID card.
    • Write down the ID number and expiration date on the top of the check.
    • Make sure the signature from the check matches the signature on the ID card. Make sure they sign the check in your presence.
    • Make sure the numerical amount and the written amount are correctly written and match.
    • Examine the check number. Make sure the check is numbered. Be extra cautious with checks under 300. These usually indicate new accounts, where the majority of bad checks are written from.
    • Watch out for any alterations to the check, such as changes in handwriting or water marks, as this can mean it is a forged check.
    • If you are concerned the check may be counterfeit, check the edges. Either the top or left side of the check should be perforated; checks with smooth edges on all sides can indicate a counterfeit check.
    • Don’t take two party checks / double endorsed checks.
    • Don’t accept predated or postdated checks.
    • Don’t accept checks that are for more than amount of purchase.
    • Establish a waiting period for refunds. If a customer, who has paid with a check, wishes for a refund make sure the check has cleared before refunding them the money.
    • For checks over the internet, make sure the check clears before sending out the merchandise.
    • Post your check policy where people can see. Include waiting period for refunds and fees for bad checks.

 

Remember, you do not have to accept a check as a form of payment.

Commercial Investigations Inc. can help you with collecting any bad checks you might have. These can include, but are not limited to: NSF (Non-Sufficient Funds), closed account, or stopped payment.