Deposit Fraud Protection

Alloya’s Deposit Fraud Protection Services provide real-time and batch deposit fraud protection, enabling credit unions to quickly identify fraudulent checks, save time and money, and find peace of mind.

Deposited items are compared to Early Warning Early Warning®'s collaborative database of deposit account owner elements to identify high-risk deposit and return items. Matched items are reported to your credit union through the real-time service, the batch service – or both services for added security!

The real-time service includes:

  • Immediate notification – at the time of deposit – on items that carry return risk (i.e. NSFs, stop payments, closed accounts and lost/stolen checks)
  • Immediate notification on risky deposit items received from ATMs, ITMs, mobile devices and member businesses
  • The ability to address items with your members present – reducing efforts and costs to process charge-backs and recover funds
  • Improved service and reduced risk for your members

Through the batch service:

Credit unions receive advance notification of high-risk deposits and return items in Return Notification Reports at the beginning of the next of business day.

Note that the real-time service and batch service options can be used in tandem for added security and peace of mind!

Other features of Deposit Fraud Protection include:

  • Comparison of MICR lines from your credit union’s deposited items to Early Warning®'s collaborative database of deposit account owner elements to identify high-risk deposits and return items
  • Customization of Deposit Fraud Protection for one or all deposit channels in TranZact
  • The ability to set individual dollar thresholds for each deposit channel
  • Validation of approximately 60 high-risk, medium-risk and low-risk warning codes with explanation regarding why the item is being returned
  • The ability of credit union staff to place member accounts on hold upon receiving a risk notification
The Early Warning and Early Warning Services name, logo and related trademarks and service marks are owned by Early Warning Services, LLC and are registered or used in the U.S. and many foreign countries. All trademarks referenced in this material are the property of their respective owners.