Did you know losses from check and ACH fraud continue to increase at alarming rates? We can help protect your businesses against altered or counterfeit checks and unauthorized or fraudulent ACH debits. Our services allow businesses to make pay or no-pay decisions online so that only authorized payments are processed. Through a user-friendly application, issued checks can be entered individually or complete files can be uploaded with ease from your accounting software.
Positive Pay Benefits
- Stop fraud before it happens
- Receive early warning email messages for exception items clearing account(s)
- Manage your accounts payable more efficiently online
- Monitor the status of exception items
- Control who can make check payment decisions with multi-user access
- Gain peace of mind with an easy-to-use, fast and reliable application
Traditional Positive Pay
A fraud detection tool that matches the account number, check number, issued date, and dollar amount of each check presented for payment against an issued file(s) you submit. Any discrepancies with the information will generate an "exception item," which prompts you to make a decision to return or pay.
Payee Positive Pay
Includes all components of Traditional Positive Pay, but also matches the payee. Optical Character Recognition (OCR) is performed on all checks presented for payment, matching the payee found on the face of the item against the payee listed in the issued file(s).
ACH Positive Pay
Fraud solutions designed to protect your accounts from unauthorized electronic charges. Depending on your preferences, the Bank will provide either ACH Block or ACH Filter.
All ACH debit transactions are blocked and you make daily pay or no-pay decisions for each item by noon.
Automatic payment of ACH transactions are based on pre-established company ID’s, Standard Entry Class, expiry dates or dollar amount(s).All items not meeting the filter criteria are automatically returned.
- Eliminate the need for manual deposit preparation
- Improve business efficiency by consolidating business relationships
- Download deposit details into your accounting software
- Gain more time to focus on managing your business
- Make deposits 24 hours a day, 7 days a week
- Reduce or eliminate trips to the bank
- Minimize time consuming data entry
Here's How It Works — Traditional & Payee Positive Pay
- Enter or upload issued check files.
- Review and make decisions on exception items. Exception items are reported by 9:00 a.m. EST for your decisioning by 12:00 noon EST.
- If a decision is not made by the cutoff time, The Bank will return all exception items to help protect your account(s).