Even with advanced processing systems and controls in place, some degree of risk is inherent in all payment methods.
On occasion, an authorized check or ACH transaction will return unpaid due to stop payment orders, insufficient funds, closed or fake accounts, and other acts of fraud.
Certegy provides insurance for these cases through our Warranty Program. It guarantees full reimbursement for the returned item’s face value, protecting companies against fraud-related losses.
Manual Claims Processing
When a paper check is returned from the bank unpaid, simply send it to Certegy to be processed and refunded. Our warranty system is built to streamline the claim payment cycle and initiate reimbursement the moment the claim is received.
Electronic Claims Processing
For ACH transactions and e-checks, merchants are funded within 48 hours for the full approval amount. Returned payments are directed to Certegy – no additional processing needed.
Centralized Claims Processing
Through our Returned Check Processing feature, all checks are stamped with a Certegy endorsement prior to being deposited. Any returned checks are automatically directed to our banking network, shortening the resolution time and eliminating the need to submit a claim.
Our Self-Risk Option
You don’t need our Warranty Program to take full advantage of our payment technologies and risk management tools. Without coverage however, processing and collecting returned payments remains your responsibility.