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Prevent Fraud with ACH and Check Positive Pay
Limit risk and exposure to fraudulent electronic ACH items and checks with control over which ACH items and checks post to your account.
What is Positive Pay?
Positive Pay is a verification service that helps businesses identify and report fraudulent and unauthorized payments.
How does Check Positive Pay work?
Customer issued-checks can be entered manually or uploaded electronically to us and then stored in a database. After the checks are processed, you receive notifications informing you about possible alterations, exceptions, and mismatches. From online banking, you can review transaction details which allow you to identify and resolve issues or mistakes, streamlining the review process and the pay/no-pay decisions.
How does ACH Positive Pay work?
ACH Positive Pay enables you to create ACH debit blocks and debit filters, used to validate ACH transactions. Transactions not matching account policies are marked as exceptions, which you approve or reject. Approved exceptions are paid and can be saved as new ACH rules which are then applied to future transactions.
Positive Pay Features and Benefits:
- Helps stop unauthorized transactions from clearing your account with improved control and security
- Includes protection against payee alteration
- Issued checks may be entered manually or via file upload
- ACH filter designation of authorized transactions
- Provides for optimum security by layering user permissions and limiting user account access
- Enables account reconciliation and easy integration into payable systems
- Lets you retain ownership of users and permissions within your company
- Saves money by limiting potential losses and legal fees with timely return of unauthorized items