Transax Cheque Guarantee from Equifax Cheque Services - UK & Eire

Each year Equifax Cheque Services guarantee in excess of £1.5 billion and save customers over £20 million by preventing known bad debt and reimbursing cheques written by new defaulters. Equifax approves and guarantees 98% of all calls by rapidly accessing an unique database including details of:

• Customer spending patterns including when a customer has a proven positive track record or recent, unusual shopping trends indicating potential fraud
• Customers who previously passed invalid cheques or match as a current Equifax debtor
• Information on lost and stolen cheques and cheque cards as an APACS (Association for Payment Clearing Services) accredited data recipient for the Industry Hot Card File (IHCF) containing over 4.2 million card records

Each year Equifax Cheque Services guarantee in excess of £1.5 billion for more than 10,000 customers at over 74,000 outlets in the UK and Eire.

When the cheque returns unpaid, payments guaranteed by the service are paid to customers in as little as 5 days.

Risk Management expertise allows Equifax to approve over 98% of guarantee requests, preserving account turnover while protecting customers against loss. Accepting cheques for even tens of thousands of pounds no longer worries customers.

By linking into the vast amount of up-to-the-minute information Equifax holds on its databases, the service not only prevents loss and fraud but actually allows customers to take on more account customers with complete safety.

Specific Models

Using all of this data, and then applying advanced analysis methods, Equifax provides models for:

• Velocity of spending
• Purchasing behaviour
• Bank/branch risk analysis
• Geographical analysis
• Overall industry
• Individual branch risk

Using some or all of these models can significantly improve your risk management performance.
Ongoing Monitoring Equifax also identifies and monitors:

• Sudden increases in spending
• Uncollectable debt
• Recent spending in unusual business types
• High risk new accounts
• Unusual geographic patterns
• Unusual purchases
• Over-trading

Flexible Access Methods
Equifax offers flexible methods of access according to the needs and size of the business or volume of transactions including:

• Telephone
• Verifone Terminal
• Combined Cheque/Card terminal integrated into the existing till system
• Unique ScreenCheque software providing the fastest verification for cheque transactions

Account Payment
Since the majority of accounts settle by cheque, Equifax assures the institution's security and peace of mind with advanced guarantee systems and identification of high risk transactions requiring caution.

Collections
When Equifax guarantees payments that subsequently go bad, Equifax helps institutions collect on a no-success/no-fee basis.

Telesales Dept., 0800 626979, email peter.shaw@equifax.com Equifax Cheque Services, PO Box 885, Edgbaston, Birmingham B16 9DH, England