Positive Pay can be one of your strongest defenses in your fraud prevention arsenal.
When you add it to your internal security measures, it can significantly improve the protection of your accounts, and help give you back control and peace of mind. Positive Pay is currently available on Commercial Checking, IOLTAs, Business Value and Business Advantage Checking accounts.*
How it works
Checks issued by companies are matched against those presented for payment. Suspicious items are sent back to the client for
review to be either paid or returned. Incoming ACH transactions can be reviewed as they are clearing your account.
Check Positive Pay
- For checks, on check issue date, one check or a file of issued checks can be uploaded to the Bank.
- The Positive Pay system will take specific attributes of the check including: check number, amount and payee and compare them to the actual checks presented for payment. It will then flag any that do not match.
- The Client can log into Positive Pay via their Online Banking to view and decision those check exceptions.
ACH Positive Pay
- ACH Positive Pay allows each client to create a list of approved payors with filters which include expiration date and amount.
- If an ACH item is generated outside of the client’s parameters an alert will be generated for approval.
- ACH exceptions can be viewed and decisioned in Positive Pay via Online Banking.
Ready to get started?
Contact our Cash Management team by completing the form below.
*There may be costs associated with this service.
