Fraud is on the rise. Replicating checks and making fraudulent transactions are all too common for today’s criminals. Positive Pay is here to stop fraud by matching the account number, check number, and dollar amount of each check presented for payment.
How Does It Work?
- Utilizing Digital Banking, you upload a file with check data.
- The check data is sent to Bank Forward.
- New checks are verified against the data sent.
- Items that do not match the data are sorted out.
- You are notified of the checks not matching data.
- You approve or reject items that do not match the data.
Positive Pay can also be used in the same way to screen incoming ACH transactions to identify unauthorized debits. ACH debits are filtered, reviewed, and approved or rejected, ensuring fraudulent transactions are not posted to your account.
Positive Pay is a powerful tool for your business. Dramatically reduce fraud, save time, and stress for you and your employees with Positive Pay. Contact your local branch to start using Positive Pay!
*Fees may apply. Digital Banking is required for functionality.
