Stop check fraud in just a few steps
Simply review mismatches daily and reject payments if you detect suspicious activity.
Benefits
- Catch fraudulent activity before the money leaves your account
- Automatically compares checks presented for payment to those in your issued check file
- Sends alerts when a mismatch occurs
- Exceptions can be reviewed and rejected prior to posting to your account
- Timely return of money should fraud occur
- Enjoy increased peace of mind knowing your information is receiving increased security
Positive Pay Frequently Asked Questions
What is Positive Pay?
Positive Pay is an automated fraud detection tool that matches the account number, check number, and dollar amount of each check presented for payment against list of checks previously authorized as issued by your business.
Positive Pay is an automated fraud detection tool that matches the account number, check number, and dollar amount of each check presented for payment against list of checks previously authorized as issued by your business.
How will Positive Pay benefit my business?
By pre-authorizing items as valid, you reduce the risk of fraudulent checks clearing your account.
By pre-authorizing items as valid, you reduce the risk of fraudulent checks clearing your account.
How does Positive Pay work?
Using your secure Online Banking, you submit a list of your authorized checks. As items clear your account, they are compared against this list to check for validity.
Using your secure Online Banking, you submit a list of your authorized checks. As items clear your account, they are compared against this list to check for validity.
What happens if a check tries to clear that is not on the list of approved items?
Any item that does not match this list will reject as an exception. You will have until 10 am to authorize or reject the item. If you authorize it, the item will post from your account and continue processing. If you reject the item, it will be returned to the bank that submitted it for payment.
Any item that does not match this list will reject as an exception. You will have until 10 am to authorize or reject the item. If you authorize it, the item will post from your account and continue processing. If you reject the item, it will be returned to the bank that submitted it for payment.
What happens if I forget to log in and review Exceptions?
The Exception item will automatically be returned to the bank that submitted it for payment.
The Exception item will automatically be returned to the bank that submitted it for payment.
How late can I review and approve or deny Exceptions?
Exceptions must be marked by 10 am.
Exceptions must be marked by 10 am.
How long does it take to get set up?
Once your application is approved, it will take approximately 2 weeks.
Once your application is approved, it will take approximately 2 weeks.
Are there fees for Positive Pay?
There is a one-time setup fee. The monthly maintenance fee can be offset with compensating balances.
There is a one-time setup fee. The monthly maintenance fee can be offset with compensating balances.
