Q:

What is the "Reason 2" code used by Certegy Inc. for business check cashing?

A:

The meaning of the Reason 2 code used by Certegy Check Services, Inc., for check verification is not clear. The company does not disclose the meaning of its codes used for declining transactions.

Certegy, used by various U.S. businesses to verify checks as of 2013, was founded in 2001. In 2007, a Certegy employee pleaded guilty to fraud and conspiracy for stealing 8.5 million consumer records and selling them to a marketing company. In 2013, the company entered an agreement to pay a settlement of $3.5 million resulting from alleged violations of the Fair Credit Reporting Act. The Federal Trade Commission alleged that the company did not ensure that information it provided to retailers was accurate and that it did not provide consumers with a fair dispute procedure. The company is the subject of numerous complaints in online consumer forums.


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