Checks are papers of value and transactions involving them must at all times strive to be above board. Verification checks, whether at the point of issuance or deposit (cashing) are of utmost importance to prevent fraud.
In this article, we explore check verification at TD bank by diving deep into specific areas such as identification verification, credit score, funds in the issuing account, and check authenticity.
Personal Identity Verification
It is important to identify their customers before they authorize their ability to perform certain transactions. Actions such as check cashing demand that the banks ascertain that the person cashing the check is the intended recipient of the money.
At TD bank, you can help the bank identify you using modern innovative identification tools provided by third parties, including the Verified.Me by Interac.
Verified.Me helps to inform the bank of who you are, and this helps in building your reputation with the bank.
Therefore, signing up for Interac verification for fast self-authentication may help speed up the identification verification stage during the check cashing/deposit process.
Credit Score Verification
Credit score verification may come in handy when cashing the check because it enables the bank to know a customer’s credit behavior.
While credit behavior may not necessarily affect the check that is cashed, it is important for banks to protect themselves from customers who may take advantage of non-extensive verification before cashing a check.
Does TD Bank Use ChexSystems?
No, TD bank does not use ChexSystems. It is one of the large banks that do not use ChexSystems when verifying checks.
Check Validity Verification
There has been increased check fraud in the recent past due to developments in technology that make it easier for people to make near-perfect replicates of original checks.
TD bank is very much aware of this and that is why they have an internal check verification team that specializes in determining whether the check is authentic or fraudulent.
The verification may also go as far as determining whether the account the check is issued from has money.
TD Bank Check Verification Phone Numbers & Contacts
It is understandable that you may need a staff member to shed light on specific aspects of the check verification process. In that case, it is only prudent to contact the bank directly.
You can contact the TD Bank check verification department through 1-888-751-9000
You can also contact the customer care representatives through Facebook Messenger or Twitter DM (1).
FAQs on TD Bank Check Verification
How long does it take for TD Bank to verify a check?
At TD Bank check verification takes less than 24 hrs. Therefore, a customer should expect the money from a check deposited on a business day to be in their accounts the following business day.
How do I verify a cashier’s check from TD Bank?
To verify a cashier’s (or any other) check from TD bank, it is always advised to call the issuing bank or visit one of the branches nearest to you.
Cashier’s checks cannot be verified online, and that is why it is always necessary to involve the bank directly.
Why Does TD Bank Hold Checks?
TD Bank may hold checks during an extended verification process as they seek to confirm that the issuing account has funds as indicated on the check.
So in most cases, the hold of funds is temporary and is usually sorted once everything has been verified to be fine.
READ MORE: Does TD Bank cash payroll checks?