Mitigate Fraud Risk With Positive Pay
Positive Pay Processing
Positive Pay enhances cash control and minimizes risk from unauthorized or altered checks. Contact a Business Banking Expert today.
- Positive Pay is a fraud prevention tool that minimizes the risk of loss from check fraud and ACH transactions
- Checks you have written are systematically compared to checks that are presented for payment to detect those that do not match on check number, dollar amount and payee
- ACH transactions that are presented for payment are compared to the authorized transactions listed to detect fraudulent transactions not authorized by the client.
- On a daily basis, you access an exception report to view any discrepancies and you make the decision to pay or return the checks/ACH transactions
Features and Benefits
- Any business can utilize Positive Pay
- No software to download
- Access the Positive Pay web site through Business Online Banking daily and make pay or return decisions on any items that show as exceptions
- Allows the identification of potential fraudulent items quickly vs. waiting until you receive your monthly statement and then identifying a problem
How it Works
- Upload your check issue file through the Positive Pay application in Online Banking
- Access the Positive Pay web site daily and make pay or return decisions on any items that show as exceptions
- Create a list of authorized/blocked ACH transactions through the Positive Pay application in Business Online Banking.
- Identify potential fraudulent items
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