If check fraud keeps you up at night, then Positive Pay may be a good option to consider for your business. Positive Pay is a check reconciliation service available through our online banking platform that compares your business’ issued checks with your daily in-clearing checks and notifies you if there are any discrepancies. This optional service provides a strong defense against check fraud.
How does Positive Pay work?
2. Checks are presented and compared against your company file looking for a match in check serial numbers and amounts
3. Checks that do not match become suspect and are manually examined for encoding or misread errors
4. Suspect checks are reported to your company online and the company advises us how to proceed (pay or not pay)