Bank teller

Your overdraft and NSF programs are some of your biggest liabilities

Regulatory focus on consumer protection, widespread litigation, increasing fraud risk and added overhead are making NSF and overdraft programs major sore spots for banks and credit unions. DoubleCheck can keep all of these issues in check—while providing you with a more flexible revenue model and empowering customers to make their own financial choices.

“The CFPB will be enhancing its scrutiny of banks that are heavily dependent on overdraft fees.” – Consumer Financial Protection Bureau Director Rohit Chopra, December 2021

DoubleCheck has your back

With Customer-Controlled NSF & Overdraft we notify your customers when they have insufficient funds in their account. So, they can view their transactions while there’s still time to intervene, prioritize and pay for them before you return any transaction.

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To lead or not to lead?

Offer your customers even more control with overdraft options as well. The choice is yours. Make the first call on what items should be covered with overdraft on behalf of your customer. Or if you really want to cover your back, let the customer decide if, when and where to apply overdraft.

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Bank/Credit Union Controlled Overdraft

No need to change your process, when your customer has insufficient funds you can apply overdraft just the way you do today. Then let DoubleCheck take over. We’ll notify your customer their account went negative and give them the ability to adjust and prioritize how the overdraft was applied. Not only that, but we also offer customers a chance to pay it off with new ways to pay, including credit card, cash and available balance.

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Customer Controlled Overdraft

Stop guessing and give customers control of their own destiny. Send all negative balance transactions directly to DoubleCheck. Customers can choose if they want to use overdraft and if so, how to apply it. They’ll also have the option of using an alternate payment method or marking the payment to be returned. You become the hero to your customer and the posterchild for providing consumer protection.

No overdraft? No problem

All of your customers can still access and make changes to negative balance transactions. Give them the chance to prioritize what items to pay and how to pay them and if that’s not an option, they make the call on what to return.

The almighty debit card

Don’t worry, we didn’t forget about debit cards. After all, they are the most popular form of payment today.* Unfortunately just one POS transaction can create a ripple of NSF issues. With our debit card coverage your customers can stop it in its tracks.

Gain new revenue while protecting consumers

Flip the script and add more value to your overdraft & NSF programs instead of penalizing consumers with fees when they come up short. Give them the option to resolve NSF and overdraft transactions before the negative consequences hit them, they reap the rewards, and you get a new revenue source.

With a new administration in place, consumer protection is the priority.

Prepare for the impending wave of regulation

Big changes are coming, and it’s clear they’ll be enforced. DoubleCheck’s built-in safeguards manage compliance and documentation to help you prepare while keeping overhead trim. No major overhauls needed. 

As class action lawsuits pile up, each NSF transaction is a massive liability.
One unhappy customer can cost you big.

If your notification and disclosure processes aren’t airtight, you’re a sitting duck in a class action lawsuit. DoubleCheck makes disclosures stand out, requires acknowledgment and tracks all notifications so you’re no longer a target.

Reduce your liability
DoubleCheck lets your customers choose which transactions get paid, which get overdraft applied, and which get returned, reducing your liability and keeping them in control of their finances. It just might reduce your insurance costs, too.

Fight fraud before it happens
With DoubleCheck, customers can report fraud immediately—giving you time to cancel the transaction before it’s settled so you’re no longer on the hook for customer losses.

Security attacks in the financial industry went up 32% in the second half of 2021 compared to the first half.**

When you help your customers, you help yourself.

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Less frustration. Better relationships.
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Putting your consumer or small business customer in control will lead to less frustration and better relationships between you and your customer.

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Stay compliant with legislation
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Built in disclosures, notifications and audit trails will keep you in compliance with any impending legislative changes, not to mention keeping your overhead costs down.

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Reduced risk of class action lawsuit
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With compliance in check, you’re at less risk of being targeted for a class action lawsuit and the negative press that comes with it.

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Timely reporting of fraud
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Timely reporting of fraud will limit your liability exposure (and keep your insurance costs low).

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Automated customer notifications
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Automated notifications and the ability to self-serve reduces the number of individual phone calls you have to make.

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Customer-centric revenue options
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Whether you choose to reduce, eliminate or maintain your fees, your focus on protecting consumers will pay off with a new customer-centric service and potential revenue stream.

Easy-to-integrate Technology solution

It’s never been so easy to solve so many common, yet complex, banking problems with one easy-to-integrate technology solution.

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Safe & secure

DoubleCheck is easy to implement. We’ll work with your existing core and digital banking providers making it accessible to all customers instantly.

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Make your money back in 3 months

In just a few months, you’ll be seeing fewer complaints, freeing up resources and enjoying a more flexible revenue model. You’ll also enjoy some peace of mind knowing you’ve got the right compliance tools in place to minimize your risk and align with regulators’ focus.

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The customers have spoken

75% of overdrawn customers would pay a fee for DoubleCheck…and 59% would change banks to get it.*** Give them a reason to stay – put them in control.

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All the security bells and whistles

DoubleCheck employs the latest security features, including encryption, audits, multi-factor user authentication and more, so you can rest easy knowing your customers’ information is safe.

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Want to keep your customers?

Keep them happy and in control with DoubleCheck.

Put your customer in control

Customers choose what gets paid or returned—so you don’t have to guess.

NSF alerts, faster than a speeding bullet

Deliver immediate alerts if a payment is about to bounce, with a window of time to address it.

Let them cover their assets

Time + flexible funding options (think Venmo and mom) = happy customers.

Cut out the consequences

Eliminate the ripple effect of missing payments and keep more customers.

Don’t give your customers a reason to bounce out of banking

Overdraft and NSF practices create a lot of friction. There’s a simple way to fix this: give customers a window of time to address the problem as well as new ways to pay for transactions that have been marked NSF. Keep them from ditching you for a non-traditional banking solution and put them back in control of their financial decisions with real-time notification and payment options from DoubleCheck.

Ready to learn more?

* Study completed by the Federal Reserve, 2019.
** Arkose Labs
*** Findings from a survey of one of the top 20 U.S. banks