Transactions Protected:
Check Positive Pay
Operates by verifying each check presented for payment against a list of checks previously authorized and issued by the company (a.k.a an issuance file). This issuance list or file includes essential details such as check number, account number, dollar amount, and payee and is also available for teller line validation of on-us checks presented to be cashed. It also inspects the check image to compare the payee name with the issuance file. Any discrepancies flag the check as potentially fraudulent, prompting alerts to the account holder. This process, available for teller line validation, significantly reduces the risk of check fraud.
ACH Positive Pay
Allows businesses to view ACH debits and credits posted to their accounts allowing them to add the vendors to an approved vendor list as well as establish limits and frequencies. ACH Positive Pay flags transactions not meeting the established criteria, enabling businesses to review and decide on the legitimacy of these transactions.
Learn more about Positive Pay