Credit Policy for businesses and how to extend credit and manage credit risk

There are some things you can look for if you accept checks as a part of your business.  Sometimes it is hard to tell if a check is fraudulent but here are some tips that will help you:

•  The check writers name is different than the name printed on the check.

   

• If the top or side of the check is smooth and not perforated.

   

• If the bank numbers across the bottom appear glossy or irregular.

   

• Any difference or misalignment of type styles.

   

• Printing on the check appears faint or photo copied.

   

• Photo ID does not match information on the check.
• Checks that have a number under 300.

   

• Checks that do not have a phone number printed on them.

   

• If the address on the check is written by hand or if the current address is changed.

   

• No photo ID.

   

• Checks drawn on out-of-state banks.

   

• Checks for more than the amount of purchase.

   

• Two party checks.

   

• Check number is handwritten, stamped or typed.

   

• Loose checks not being recorded in a check register

Just try to remember these things or print out this list and tape it somewhere where checks are accepted.