An Efficient Way to Reduce Check/ACH Fraud:
Positive Pay, an automated fraud detector tool, can help lessen the chances of check fraud and counterfeit checks.
Enhanced Technology and How It Works::
This service matches the account number, check number, issue date, payee and dollar amount of each check entered into Positive Pay. Records are instantly updated in the system and compared to each item presented for payment. Finally, the items that do not match or appear suspicious are reported back to the customer for confirmation. Reasonable deadlines are placed for the customer to make their decision whether to pay or reject any suspicious checks.
- Minimize fraud with early error detection
- Convenient online access
- Efficient and hassle-free reconciliation
- Various reporting available for paid or rejected items
- Customizable notifications available
- Quick and early error detection
- Enhanced Reporting Capabilities
| BENEFITS/SELLING POINTS | |
|---|---|
| Simplicity | Checks that match the items on the check issue file are automatically paid, which can reduce the potential of substantial losses. |
| Decisioning | Reasonable decision deadlines are placed to minimize risk; return defaults can also be created if the deadline is missed. |
| Safety | Capability to export check issue files, verify potentially suspicious items (front and back check images available), and make payment decisions. |
| Security | Prompt and early email notifications available for file transmissions and suspicious items to prevent possible losses. |
Get Started
See for yourself how our cash management suite can help you save money and improve efficiencies.
Visit your local Financial Center, or call us at 1-800-363-8115 today!