A. In many cases, a bank may return lost funds resulting from fraud once they complete their investigation. On average, this can take up to 90 days. EZ Shield® advances those lost funds within 72 hours once documentation is received, saving your business valuable time and headaches.
Q. If I purchase Premium Secure Laser Checks, why do I need EZ Shield?
A. Premium Secure Laser Checks provide ink, seal and paper-based features that help prevent fraud on those specific documents. However, as good as those features are, criminals may be able to find ways around them. Should someone get a hold of your checks and successfully commit fraud on that account, EZ Shield is in place to help you throughout the process and can advance lost funds quickly and efficiently.
Q. What if I lose my checks, but no fraud occurs?
A. According to the EZ Shield terms and conditions, check fraud protection (CFP) applies when forged signature, forged endorsement, and altered check fraud has occurred. That being said, after you notify your bank, we encourage you to contact EZ Shield so they can be proactive with you to minimize the risk of fraud on the sequence of checks that are missing.
Q. If one of my employees commits check fraud on my company account, will my business be able to leverage EZ shield services?
A. If you, a family member or employee of a company commits check fraud on your company account, it is deemed embezzlement, and EZ shield services will not apply.
Q. Does EZ shield apply to electronic or online banking fraud?
A. No. EZ shield will advance funds in the event that money is removed from your account due to a legitimate check that has been forged or altered and that is within the numbering sequence for which you purchased coverage.
Q. What if my checks are reproduced?
A. Fraud in the form of check reproduction (considered “counterfeiting”) on unauthorized check stock is not eligible for EZ shield services. Safeguard’s checks have many covert and overt features that help mitigate the risk of counterfeiting. However, if anyone steals these checks or bypasses them in the mail and alters them in any way, then EZ shield will assist you.
Q. For what does EZ shield advance funds in the event of a check fraud incident?
A. EZ shield advances the amount of funds fraudulently acquired from your account as a result of one of these checks being forged or altered.
Q. How does EZ shield differ from LifeLock® and other providers?
A. EZ shield has a patent pending for its check fraud protection (CFP), which means there is no other provider of this specific service. The business identity restoration (BIDR) service is similar to other restoration services, but it’s an annual low-cost service that can be activated at the time of your check purchase. Competitors typically charge a monthly subscription fee at a much higher rate and contain an active monitoring element throughout the subscription.