Telecheck basically keep a record of your banking account history like a credit bureau company would keep records for your credit line and payments. It is a service company that holds records of people with specifically negative banking history (checking account and checks), for example, unpaid balances, closed accounts, NSF, returned checks... and usually ignores positive banking history. Thus, if you have a good banking history, you will have no record in Telecheck system.

If a payday loan company has in fine print that they require to check your record using Telecheck, it means, they are reviewing your Telecheck banking history records to find if youa re listed with negative banking records.

There are other similar companies that offer the same service - keeping the banking bad history records, the largest one and well-known is ChexSystems.... smaller one - Crosscheck.