Michigan National Corp., Farmington Hills, has agreed to resell Equifax Inc.'s check authorization services and equipment to the bank's merchant customers.

The agreement involves Equifax's check guarantee and verification services, its point of sale check readers, and its credit card processing terminals.

The bank, a unit of National Australia Bank Ltd., has about 13,500 merchant customers.

Equifax officials said the bank joins about 150 other "market partners," which are banks that help the Atlanta-based company to reach small retailers.

In return for this help, banks get an expanded roster of services that can be used to attract more merchant customers, said Reginald A. Davis, vice president at Equifax Check Services.

Equifax has more than 25,000 merchant customers, many of them chain stores such as T.J. Maxx and Service Merchandise.

Equifax's financial services unit helps businesses grant credit, and process credit card and check transactions.

The 98-year-old company also provides life and property insurance services, which generated about one-third of Equifax's $1.7 billion of revenue for the 12 months ended Sept..

Equifax plans to spin off its insurance services in 1997. David Mooney, a company spokesman, said its two main business units, financial services and insurance, are growing rapidly but would be better able to compete for business as separate companies.

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