BANKCARS
The "Bank Customer Approval
Reporting System" and its Risk Management Partners
give Financial Institutions access to a national
data base of over 168 million checking accounts.
Hundreds of merchants and banks nationwide contribute both
positive and negative information to this data pool on a daily
basis.
BANKCARS Benefits:
Timeliness –
Updated daily with real time data
Comprehensiveness –
Combines input from both financial institutions and
merchants
Coverage –
Nationwide for all 50 states
Accuracy –
Search flexibility with name, SSN or
state
issued DL or ID
Ease
of Use –
-
Online Internet
service requires no equipment integration
-
May be used from any
location in your organization
Rapid response –
Returns on queries arrive in seconds
Flexibility –
Bankcars may be used as standalone, or included with
another system
Cost – Bankcars
is priced
for affordability (More cost effective than other
services). Fewer checks taken by merchants on closed
accounts results in lower charge offs for you.
Negative Banking History:
BANKCARS
employs data from NCN (National Check Network)
•Database
contains:
-
oAdverse
action closed accounts reported by financial
institutions (i.e., non-paid overdraft fees,
stolen/forged checks, etc.)
-
oInformation
on unpaid returned checks from 140,000 merchants in
all 50 states
-
oInformation
on over 168 million checking accounts
(Largest file available)
-
oInput
from over 300 credit reporting agencies
•Maintenance
– Updated daily by on-line sources
-
oChecks
collected from merchant accounts are removed
-
oFinancial
institutions remove satisfied accounts
•Unique
capability – search can be keyed to either SSN or
state issued DL/ID
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