Routingcheck - An Easy New Tool For Increased Financial Security.

As a small business person, you need to know about your customers and vendors

. You cannot be too careful in these days, and verifying the bona fides of a check or money transfer is becoming more and more important.

Not long ago, a business person I know was presented with a check which appeared to be perfectly good - it was a business check that a customer had, filled out in that customers name. The check was deposited, it went through, the money and the merchandise was paid out - and three weeks later the money from the check was drawn back out of my friends account. The account and routing numbers were good, but that was all that was good - they did not match the company or the bank name. It was a fraud.

If he had checked the Bank Routing Number before depositing the check, he would have seen the mismatch of the info, and he would not have been out the five thousand or so that it ended up costing him. Now he routinely runs all the checks that he gets through the RoutingCheck.com, and does the same for all money transfers that he receives and initiates.

All checks and banks in the US use routing numbers, and you can check to see which bank and even which branch the check belongs to, or check the provenance of a transfer that is incoming or outgoing. All banks use this number routinely; that and the account number are the things which allow our banking system to work at all, and with RoutingCheck you can easily check any routing number to see the bank and which branch of that bank you are dealing with.

It is also a great way to make sure that the Bank Routing Numbers you received to send money to via a wire transfer is the right number. Fraud is not the only reason you might have the wrong number - human error plays a role it as well. Numbers are entered incorrectly all the time, and while a null number may not go through at all, a mistake in routing numbers can lead to money being transferred to the wrong institution.

When that happens it is not an instantaneous thing to get your money back; it is more likely to take days or more than a week to reverse a transfer done in error. Before you send a transfer, check the routing number to make sure it matches the institution that you are doing business with. If you know the vendor you are sending money to uses Fifth Third Bank in Cincinnati, it is as easy as 1, 2, 3 to use RoutingCheck.com's easy lookup system, In just minutes, you can verify which bank a check is drawn on, the routing numbers for a transfer you are making to check that you are sending money to the right institution, and check the origins of money coming to you by the same fashion.

Don't make the mistake of thinking a good looking business check is just what it seems - double checking all your routing numbers through RoutingCheck.com takes just minutes, but can save you money and time better spent elsewhere.

by: RoutingCheck.com

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