TeleCheck helps businesses to prevent losses from bad checks.
TeleCheck is a company that provides businesses with a network to protect against check fraud. When you write a check in an establishment that uses TeleCheck for verification, your account information is sent to TeleCheck at the time of purchase. The TeleCheck system verifies your information against its records and makes a decision on whether the transaction is risky to the business. The decision to accept or deny the check ultimately lies with the business, but TeleCheck helps it make educated decisions.
Instructions
1. Contact TeleCheck at the time your check is declined by a business. The retailer should have the number for TeleCheck readily available. They do not know the reason that TeleCheck has advised them to decline the transaction. You will have to resolve this directly with TeleCheck. The number provided by the retailer is the direct line for dealing with customer situations. Also be sure that the retailer gives you the control number in order to reference the transaction with TeleCheck.
2. Explain the situation to the TeleCheck representative and provide the the control number for the transaction. There are a couple of reasons why TeleCheck may have issued the denial. Perhaps you have a bad check at a retailer that was never cleared up. If so, write down the information. TeleCheck may also decline the transaction because it deems the account activity risky. Verify your identity to the operator and ask the reason why they deemed your transaction to be possibly fraudulent.
3. Clear up any outstanding bad checks. To improve your standing with TeleCheck, you need to pay all fees associated with the bad checks in addition to the original amount of the check. Fees for returned checks can range from $15 to $50 depending on the laws in the state the check was written. Allow seven to ten business days after paying bad checks and fees for TeleCheck to recognize it and clear you from the system. If the transaction was declined because of another reason, move to the next step.
4. Examine the transaction details closely for spending patterns you plan to repeat in the future. If the reason for decline is something you plan to do on a regular basis, it may be worthwhile to contact TeleCheck and explain your situation. If this was an isolated incident, such as forgetting your debit card one time and having to write a check instead, then it may not be an ongoing issue for you.
5. Manage your funds carefully. A history of returned checks can cause problems such as declined checks, negative credit ratings and bank account closings. Consider abandoning check writing in favor of a debit card. This will avoid the problem altogether and is faster in the check-out line. Another option is to arrange for overdraft on your checking account to avoid returned checks.
Tips Warnings
Be sure to keep all receipts and records of your correspondence as you work to resolve the situation.
Maintain awareness of your account balances and transactions. If TeleCheck reports a bad check that you are unaware of, it could indicate fraudulent use of your bank account or that someone used your personal information to obtain another bank account. Reconcile statements or keep a close eye on the account through online banking to minimize such occurrences.
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