What is Positive Pay?
Positive Pay is available to business members of all sizes to help stop check and ACH fraud. Positive Pay matches the account number, check number, and dollar amount of each check or ACH debit presented for payment against a list previously authorized and issued by your company.
- Provides an automated process to prevent unauthorized debits from clearing your account
- Receive notices of unauthorized attempts to electronically debit your account before the debit hits the account
- Authorized company users may bypass the system to allow an ACH debit to be paid
- Assign daily allowable limits for specific vendors
- Prevent fraudulent checks from clearing your account by reviewing items considered to be "exceptions"
- Maintain tighter control over checks clearing your account by submitting an electronic check issue file
- Check number and dollar amount fields for each paid check are screened and matched
- Create different user levels for internal security controls
- Access a variety of reports to help improve the reconciliation process
- Secure online multifactor authentication
- Manage exceptions in a timely manner with email notifications
- Low monthly bundled service charge for both Check and ACH Positive Pay available
- Reduce risk of financial loss
- Safeguard your organization's reputation
- Enhance visibility of check activity
- Solidify internal controls and reinforce audit trails
- Minimize disruption to operations
- Simplify account reconciliation
- Save time by reviewing only exceptions
Contact our team.
Work with our Treasury Management Team to get the solutions that are right for your business.