Teletrack’s MICR Data offering is designed to provide feedback regarding the validity of the data submitted, and the existence of multiple accounts for the same consumer or multiple consumers using the same account. In addition, Teletrack reports if the submitted Social Security Number (SSN) has been associated with the input MICR data previously. This value-added data helps prevent potential fraud and reduce losses by highlighting conditions that may require further verification.

Teletrack’s MICR data validates the routing transit number (RTN) and indicates account restrictions. While the system does not report the status of funds in the account, Teletrack confirms that the account number follows the financial institution’s format. Teletrack also reports the name and phone number of the financial institution and the Automated Clearing House (ACH) conditions for the financial institution, including the ability to receive ACH credits and/or debits. The RTN status indicates if the routing number is active or retired.

An indicator of potentially fraudulent behavior can be uncovered by examining an applicant's past relationship with MICR data as well as examining the relationship of MICR data with other applicants. Teletrack’s system indicates if the MICR-SSN combination has been reported in the past, if the applicant’s SSN has been associated with other MICR data, and if other SSNs have been submitted with the MICR data entered. The existence of these relationships does not necessarily imply fraudulent behavior, but excessive accounts for a consumer or multiple consumers with the same account may require additional investigation.