A system that verifies the details of bank customers including information about the account such as customers' addresses and loans. It is done by banks sending a letter sent the customer who is then asked to send a reply within ten business days if the information held by the bank is in any way incorrect. If no reply is received, it is then assumed that the information held is correct.
Related information about negative verification:
- Negative Verification Definition | Investopedia
A system of confirming that a bank's records agree with a customer's records. The bank contacts the customer to provide specific information about the account.
- Negative Verification: Definition from Answers.com
Negative Verification Auditing system whereby a letter regarding balances, loans, or other information is sent to a bank's customer.
- What is negative verification? definition and meaning
Definition of negative verification: A system that verifies the details of bank customers including information about the account such as customers' addresses and ...
- Positive and Negative Verification | The ESL Edge
Jul 21, 2008 ... This hierarchical process also brings in another fundamental distinction, namely that of positive and negative verification. In the book ESL ...
- Negative Verification Definition & Example | InvestingAnswers
We explain the definition of Negative Verification, provide a clear example of how it works and explain why it's an important concept in business, finance ...
- Verification 101 - Positive and Negative Verification
Apr 9, 2011 ... This verification article discusses two types of verification - positive and negative. Both are necessary in a complete verification methodology.
- SSA - POMS: SI 00810.550 - Developing Income Discovered in ...
May 14, 2012 ... SI 00810.550 Developing Income Discovered in Negative Verification. A. Background. As provided in the Personal Responsibility and Work ...
- Verification Martial Arts » Blog Archive » Negative Verification
Posted by Janick Bergeron on December 20th, 2008. The objective of negative verification is to check that an error is detected when present. It is actually one of ...