Banks use information relayed on paystubs. Banking facilities use the information on paystub to tell if a loan applicant is in a position to acquire a loan. Payment notifications are made by paystubs. A paystub commonly gives the information about someone’s net earnings after possible deductions are made which may include taxation, medical insurance and other related types of insurance that are the employee has acquired.
It is the requirement to evaluate the paystubs to examine the possibility of the employee to get loans. It the objective of financial institutions to make the paystubs given are valid and real. In order for the loan ineligible employees to acquire loans, some other parties alters and puts false information on the paystubs. These parties put false information on the fake paystubs. The payment details of the employee is the information that is commonly altered. Putting false details in the paystubs is done to help employees. acquire loans from banks. Renting of a house and leasing of equipment are some activities where paystubs are used. The borrowers’ and tenants’ credibility is conveyed by paystubs.
Many institutions that use the paystub document should examine the paystub before carrying out any transactions with their clients. Verification can be done by comparing the information relayed on the paystub and the security cards like passports and national identification cards. The relevant financial institution must make sure the information on other documents matches with what is relayed on the paystub.
The quality of the paystub is also worthy examining. The quality of the paystubs depends on how they printed and produced. The paystub must have consistent characterization of letters and numbers if it is not tampered with. Some of the signs of a fake paystub include non-matching fonts, improper spacing of the characters and presence of dark lines in the document that gives the proof of editing. The layout of the paystub tells whether it is real or fake paystub. According to the arrangement and distribution of the numbers and letters, the rows and columns in the document must add up.
The document’s numbers must be closely checked to reduce any chance of false information. The numbers include the various dates of payments by the institution that the employee works in. The mode of payment of the salary of the employee stated in the paystub must match the employer’s way of paying its workers. The duration of work the employee works and get paid must also add up to their earnings. The total annual payment of the employee after division with the duration in which the employee is paid must give a correct figure of the salary on the paystub. Tax payment inquiry is important in understanding whether the paystub is fake or real.