We'll keep a close eye out for forgeries and alterations1.
Online scams attract a lot of attention these days, but bogus paper checks are still a big problem. That's where Positive Pay comes in. By closely inspecting all checks submitted for deposit, Shore United Bank can spot fraud attempts, prevent costly losses, and protect your bottom line.
How Positive Pay works
- Your company imports a file containing the checks issued prior to distributing.
- When checks are presented, they're electronically compared against your file to see whether the checks are fraudulent or not.
- These checks are reported to you through your online banking inbox, and a decision would need to be made whether to pay or not pay the item.
1Shore United Bank is able to check for alterations of check number and check amount. We are not able to check for payee alternations at this time.