Fidelity bank is implementing a policy of check verification to ensure the accuracy of checks deposited in the bank. This process involves ascertaining the identity of the drawer and drawee, and using automated means to verify the information. If it is still not satisfied with the information, Fidelity bank can call you for producing the required documents.
What is a Routing Tool and how does it verify checks?
A routing tool can help you to login to your bank account and find the routing numbers of your checks. It can also tell you if the check has been verified or not.
Steps to verify the check through Routing Tools?
- Open the bank’s online banking account
- Click on the “Verify Checks” link in the top right corner of the screen
- Enter your name and account number
- Click on the “Verify Check” button
- Your check will be verified and you will be able to view its results in your online bank account.
If you have an account at a branch in a different state or if your phone number is not working at the headquarters office, please call the branch and ask for the routing number for that particular location.
Why does the need for check verification arise?
Many cases of fraudsters, issuing fake checks intentionally to their suppliers to avoid paying the money, are being heard these days. To protect innocent people from being caught in the trap of these types of fraud, verification is a must.
Money laundering is a process of removing money from the hands of criminals and terrorists by laundering it through legitimate businesses. This way, the economic growth is hindered due to tax evasion.
The bank has to suffer huge losses in these situations, especially since there would be a negative impact on the bank’s image. So, to avoid any damage to its image, the banks have started verifying checks. ..
The bank is in a difficult situation. It has failed to be vigilant in the past, and it may not be able to do so in the future if it continues to make mistakes. To avoid any potential penalties, the bank needs to be more diligent.
Conclusion
Fidelity bank has been using a conventional check verification process for many years, but it too has updated itself to adopt the digital verification of checks procedure. With the increasing number of scams, it’s the need of the hour for banks to ensure the legitimacy of the source of money being transferred and payee.
A1. It takes about two business days to verify a check.
The verification process for government checks can take a little longer, but it’s usually much easier than the process for regular checks. This is because the government is more likely to require specific information from the person receiving the check, such as their name and address.
If your check is rejected, the bank may be able to verify it if you provide additional information such as your account number and routing number. If the bank is unable to verify your check, you may need to contact the bank or the issuing institution. ..
You will receive a call from your bank informing you about the rejection of your check and asking you to produce the necessary documents required for your identification. You have to be ready with the valid ID card having your photograph and show it to the bank as soon as possible.
