A flexible solution with business-friendly pricing.
RVD ADVANTAGE Lite
RVD ADVANTAGE Lite database accesses over 2.3Billion consumer and commercial bank account records. This database does not contain associated information such as names and telephone numbers or historical details linked to the account. RVD Advantage Lite will issue a decline response if the account has been reported as closed, unable to locate /no account found at the financial institution, or the bank routing number is invalid.
- Verifies the bank routing number is valid and active in the US or Canada.
- Utilizes sophisticated algorithms and proprietary processes to ensure the structure of the account presented conforms to the known structure(s) utilized by the bank issuing the account.
- Decision response: Accept, Decline, or Warning based upon custom rules for each of our customers.
- Alerts you if the account has been reported as closed or as unable to locate/no account found at the financial institution.
- Identifies if an account is new to the database or provides the date it was first seen in RVD.
- Meets qualifications for the Nacha WEB debit rule.
RVD Basic
RVD Basic is designed for merchants and processors handling lower-risk transactions or transactions with a higher proportion of repeat customers.
- Verifies the bank routing number is valid and active in the US or Canada.
- Allows velocity and individual risk settings for every customer.
- Alerts you if the account has been reported as closed or if there are current outstanding unpaid items.
- Identifies the number and dollar amount of unpaid returns on the account.
- Decision response: Accept, Decline, or Warning based upon custom rules for each of our customers.
- Identifies if an account is new to the database or provides the date it was first seen in RVD.
- Provides up to two names and telephone numbers associated with the account if information is resident in the database.
- Supplies the number and dollar amount of all (paid/unpaid) returned items with average number of days to pay a returned debit.
- Inclusion of OFAC for AML activity (additional option).
RVD ADVANTAGE
RVD ADVANTAGE includes all the features of RVD Basic with the addition of checking the structure of the account number to ensure it conforms with the structure(s) the financial institution issues. It is designed to reduce fatal returned items such as no account or account not found.
- Verifies the bank routing number is valid and active in the US or Canada.
- Utilizes sophisticated algorithms and proprietary processes to ensure the structure of the account presented conforms to the known structure(s) utilized by the bank issuing the account.
- Allows velocity and individual risk settings for every customer.
- Alerts you if the account has been reported as closed or if there are current outstanding unpaid items.
- Details number of unauthorized returns reported on the account within the last 12 months.
- Alerts you if the account has a history of returning debits and the average days for payment.
- Identifies the number and dollar amount of unpaid returns on the account.
- Decision response: Accept, Decline, or Warning based upon custom rules for each of our customers.
- Identifies if an account is new to the database or provides the date it was first seen in RVD.
- Provides up to two names and telephone numbers associated with the account if information is resident in the database.
- Supplies the number and dollar amount of all (paid/unpaid) returned items with average number of days to pay a returned debit.
- Inclusion of OFAC for AML activity (additional option).
- Meets qualifications for the Nacha WEB debit rule.
RVD PLUS
In addition to providing account history in the risk verify database, RVD Plus+ accesses multiple financial and retail databases to augment known history on the bank account. It is the most effective way to limited returns to an account and adhere to the NACHA thresholds required to continue processing electronic payments.
- Verifies the bank routing number is valid and active in the US or Canada.
- Utilizes sophisticated algorithms and proprietary processes to ensure the structure of the account presented conforms to the known structure(s) utilized by the bank issuing the account.
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Returns a Decision Code number that allows our customers to determine the level of risk they wish to accept:
- Recognizes and separates out “fatal” history on the account such as account closed, no account found, and invalid account.
- Alerts our customers when a high number of unauthorized returns have been seen on the account.
- Alerts our customers if there are current unpaid returns on the account for any reason.
- Alerts our customers if the account has a history of returning debits and the average days for payment.
- Allows velocity and individual risk settings for every customer.
- Identifies the number and dollar amount of unpaid returns on the account.
- Identifies if an account is new to the database or provides the date it was first seen in RVD.
- Provides up to two names and telephone numbers associated with the account if information is resident in the database.
- Supplies the number and dollar amount of all (paid/unpaid) returned items.
- Inclusion of OFAC for AML activity (additional option).
- Meets qualifications for the Nacha WEB debit rule.
Customize the verification rules to match your risk tolerance.
No two companies are the same. Depending on the business you’re in you will have a unique risk profile. With RVD Advantage Lite, Basic, Advantage and Plus we can work with you to customize parameters to meet your needs. Some rule settings include:
- Setting maximum dollar amount per transaction, ACH and check debit values.
- Limiting both the number and dollar amount of transactions allowed per day, week or month.
- Setting different thresholds for new accounts, known accounts, or for customers and businesses that have a high frequency of transactions without unpaid returns.