What is CheckGuard?
CheckGuard is a service offered by TeraCorp to
add an extra layer of protection before accepting any
checks from your clients. Using a bilateral system of
data sharing among all of our customers in the check
cashing industry, each check you cash will be put
through a rigorous series of checks and balances to
ensure that there are no known cases of suspicious
activity when accepting the check. It is quick and
simple and happens entirely behind the scenes only alerting
you of the probability that the
check you are cashing is valid.
How does it work?
CheckGuard uses a very simple form of data
sharing. Simply put, think of it as all of our customers
working together on a giant conference call. Each one
asking if they should accept a check from a particular
client. After each member searches their records to see
if they have any negative experiences from that client,
they each respond as to whether or not you should accept
that check. Of course, it would be impossible for every
check casher to stay on such a conference call all day,
so CheckGuard does it for you! Each client that
subscribes to the service shares their data*
with the CheckGuard data server and when you attempt
to cash a check, our CheckGuard service simply "checks in" with the
data server to see if there has been any suspicious
activities associated with that account and reports back
to you-via a visual graph-the calculated risk associated
accepting that check! There are currently two ways that
CheckGuard works. Cached mode, and Real-time. Cached
mode works by periodically obtaining the list of recent
transactions (both successful and non-successful) and
populating your local database with this information.
This method allows you to work disconnected from the
internet and still have all the access to the data as
you would if you were connected. The Real-time mode
works with a dedicated high-speed internet connection
and verifies each check at the time it is presented.
This method (though most up to date of the two methods)
requires a continuous connection to the internet in
order to utilize CheckGuard. If you choose the
Real-time method and do not have the necessary internet
connection however, you can, still continue to utilize
the CheckGuard Service, but it will only work in
Is my client's privacy protected? How about my
Absolutely! Only the most import information necessary
to validate checks is stored in our database and all
content is highly encrypted! This allows the service to
be used without any privacy infringement to your
clients. Your privacy is also protected! Location
information about where the data came from is restricted
only to TeraCorp and is not shared between clients. You
will not know detailed information about which clients
reported on a particular account nor will they know
about you. In fact, none of our clients will even know
the others exists from the data received from this
How much does it cost?
The CheckGuard service is billed as a monthly
subscription for only $60.00 per month. A cost
that we're sure you will determine pays for
itself after only having prevented ONE bad
Added for your convenience, your subscription
will automatically be renewed each month until you
decide to cancel. There are no contracts and you may
cancel your subscription at any time.
* Only the minimum data
necessary to perform proper verification will be shared.
Personal information such as address, identification
certificate numbers and
phone numbers are not retained on our servers nor shared
with other members.