What is Positive Pay?
Positive Pay is a fraud-prevention service designed to safeguard your business against unauthorized ACH entries or check transactions and altered check fraud. This service significantly reduces the risk of check and ACH fraud, provides greater control and visibility over payments cleared, and helps you detect fraudulent activity early, potentially avoiding financial loss and business interruption.

Two Key Types of Positive Pay:

• ACH Positive Pay: Protects your business from unauthorized ACH transactions.
• Check Positive Pay: Ensures only checks you have authorized are processed for payment.

By implementing ACH and Check Positive Pay, you can have peace of mind, knowing your transactions are monitored and protected against potential fraud.

How Does ACH Positive Pay Work?

1. Set Controls: You specify the approved vendors and associated Company ID and options to set maximum dollar limits and frequencies a vendor can debit the specified account.
2. Monitor Transactions: Each ACH debit against your account is matched against these controls.
3. Decision Time: You receive alerts for transactions not meeting your specified criteria, and you decide whether to allow or reject these payments.

Benefits of ACH Positive Pay:

• Control and Visibility: You maintain control over who can debit or credit your accounts and for how much, ensuring only authorized transactions clear.
• Prevent Fraud: Alerts let you react swiftly to unauthorized transactions, minimizing potential losses.
• Enhance Efficiency: Streamline your payment processes by setting parameters that automatically handle routine transactions from authorized vendors while flagging unusual activity for review. Unauthorized vendors can be added to a block list eliminating future transactions from posting.

By integrating ACH Positive Pay into your financial toolkit, you not only protect your assets but also enhance your operational efficiency.

How Does Payee Check Positive Pay Work?

1. Submit Check Details: Provide details of the checks you issue, including payee name, check number, amount, and date issued by uploading a file or manually inputting the information.
2. Automated Matching: As checks are presented for payment, each detail is verified against your submitted check issuance list.
3. Alerts and Decisions: Receive prompt alerts for any discrepancies, allowing you to decide whether to pay or return the check.

Benefits of Check Positive Pay:

• Mitigate Fraud Risks: Quickly catch and return altered or counterfeit checks.
• Control Payments: Greater control over check payments prevents unauthorized transactions and losses.
• Financial Integrity: Maintain the integrity of your financial transactions and records.

By having Payee Positive Pay in place, you can eliminate the hassle of having to close your account if it is compromised. Embracing both ACH and Check Positive Pay provides comprehensive protection for all aspects of commercial banking. Equip your business with these essential tools to navigate the financial landscape safely and efficiently.