Check guarantee is a service offered to merchants that accept personal or business checks as a form of payment for goods or services. The concept of check guarantee is to offer merchants "insurance" that if the check they accept for payment (after is has been authorized by NCT) bounces, they will be covered by NCT and as a result not suffer a financial loss.

NCT has many ways in which a check can be authorized including but not limited to electronic, via our secure website, summary sheets or voice authorization.

Check Guarantee Process

A typical transaction involves a merchant receiving a check from a check writer and either processing that check through a POS (Point of Sale) terminal for approval through NCT's proprietarily developed and maintained database, calling it into our 24 hour voice authorizations department or listing it on a Summary Sheet for automatic approval. Electronic transactions are called into NCT electronically for approval. Summary Sheets are faxed in at the end of the day without the requirement of an approval.

Upon receiving approval on an electronic transaction, the subscriber will note the approval number on the check, complete the transaction and deposit the check accordingly. If the check clears the issuer's bank (check writer's bank) then the transaction has concluded. However, if the check does not clear the issuer's bank the check will be returned to the merchant and the merchant will in turn submit the claim to NCT for reimbursement. Upon NCT's receipt of the claim, NCT's Accounting Department will enter all of the key information into the system. The claim will then be submitted for reimbursement in accordance with the merchant's pre-determined reimbursement schedule.