Advanced eCheck Services
Pangea provides a solid, redundant and scalable eCheck Solution for a wide range of customers from Low to High risk accounts.
Our back-end Bank verification and Scrub allow our customers to rest at ease knowing that charge backs will be minimized.
Dynamic Compliance Solution – How it Works
- In this step, we verify that the account and routing numbers are correct, bank approved numbers. We use the check sum formulas and a process that we developed to verify these numbers. During this process we also ensure that we have not lost any data or had any issues with the file.
- It is very common for us to find invalid account and routing numbers. We have developed a database of nationally valid and invalid routing numbers. We continue to develop and grow this database to keep it up to date. This helps us ensure any invalid routing numbers are scrubbed out in the first step.
- In this step, we use our “Bad Account” database to remove known bad account information.
- We also confirm that we are not submitting the same borrower across multiple clients. This ensures that we are not debiting the account for multiple companies on the same day. The bank views this activity as a sign of account trouble including potential bankruptcy or fraud, which could leave them to freeze the account to protect their interest.
- We also check for accounts with negative account data. Negative account data is our proprietary algorithm that is built to help determine if a transaction is high risk. This algorithm is continually enhanced for the purpose of increasing what can be sent to the bank while keeping returns at a minimum. This ensures that we are able to collect the maximum amount for our clients while keeping the returns within acceptable limits.