One concern that remains top-of-mind for financial institutions and consumers alike is check fraud.
The Association of Financial Professionals reports that U.S. check fraud continues to rise, costing the financial services industry billions of dollars each year. And for your account holders, the average loss they can expect to incur related to a check fraud incident is more than $2,400.*
In response, Harland Clarke is adding to its expanding suite of security and identity theft-related products with the EZShield Check Fraud Protection Program® (“EZShield”). EZShield is a service that protects consumers and businesses against the high cost and sometimes lengthy recovery time associated with check fraud.
How It Works
EZShield is a proven check fraud solution that helps consumers and businesses recover lost funds quickly — within 72 hours of receipt of a completed Request for Reimbursement Document Packet.** Since its launch in 2001, EZShield has protected more than 37 million check orders for more than 20 million unique consumers.Specifically, EZShield provides protection against three types of fraud:
- Forged signatures
- Altered checks
- Forged endorsements
EZShield coverage is provided for up to two years per covered check order, and up to $20,000 in reimbursed funds for business orders and $25,000 for personal orders ($15,000 if using personal checks to represent a business).
EZShield Benefits for Account Holders
By purchasing EZShield check fraud protection when they place a check order, account holders:- Gain added peace of mind, knowing their checks are protected
- Receive reimbursement for lost funds quickly when they have become a victim of check fraud — within 72 hours of receipt of a completed Request for Reimbursement Document Packet**
- Recoup expenses associated with restoring their checking account to pre-fraud status, including merchant fees, notary fees, document fees, mailing and overnight courier expenses, and the cost of replacement checks for newly opened accounts
EZShield Benefits for Financial Institutions
By offering EZShield check fraud protection, financial institutions can:- Help preserve good will with account holders
- Offer additional security to account holders
- Provide a cash-flow management option to end consumers, which enables them to receive their reimbursement sooner
In addition, EZShield fraud experts provide a single point of contact for the financial institution and the consumer — and they are specially trained to handle the paperwork involved in fraud resolution.
To learn more about personal check protection with EZShield, including information about coverage and terms and conditions, click here. (Note: By clicking this link, you will be leaving harlandclarke.com and accessing the EZShield website at http://cfp.ezshield.com.)***
To learn more about business check protection with EZShield, including information about coverage and terms and conditions, click here. (Note: By clicking this link, you will be leaving harlandclarke.com and accessing the EZShield website at http://cfp.ezshield.com.)***
*http://cfp.ezshield.com/Home/ProductInfo/AboutCheckFraud/AboutCheckFraudBenefits/tabid/117/Default.aspx
** A completed Request for Reimbursement Document Packet consists of a copy of the police report, a completed affidavit request for reimbursement, a signed limited power of attorney, and a copy of the check(s) involved in the fraud incident.
*** Website Links - Please be aware that Harland Clarke is not responsible for the privacy practices of sites not managed or maintained by our company. Harland Clarke encourages Web users to read the Privacy Statement of any site that collects personally identifiable information. Harland Clarke's Privacy Statement applies solely to information collected by Harland Clarke.