Positive Pay is automated fraud detection that matches the account number, check number and dollar amount of each check presented for payment against a list of checks previously authorized and issued by the company. All three components of the check must match exactly or it will not pay. Making fraud prevention easier and more effective:
- Proactively reduce fraud - Each check is compared electronically against your list of transmitted checks.
- Peace of mind - We verify each check prior to it clearing your account.
- Save time - Electronically transmit a file to the bank instantly.
- Easy to use - Simply transmit a file each day checks are written.