Positive Pay is a fraud prevention service designed to help businesses detect and stop suspicious check activity before funds leave their account.
When your business issues checks, you provide your bank with a list of approved check details, such as:
• Check number
• Issue date
• Dollar amount
• Payee information
As checks are presented for payment, the bank compares each check against the information you provided. If everything matches, the check can be processed normally.
If there is a discrepancy, the item is flagged for review so you can decide whether it should be paid or returned.
Positive Pay adds an additional layer of security by helping identify:
• Altered checks
• Counterfeit checks
• Duplicate checks
• Unauthorized check activity
Instead of discovering fraud after money has already left your account, Positive Pay helps identify potential issues before a transaction is completed.
Check fraud continues to evolve, making prevention more important than ever. Positive Pay provides businesses with a simple yet effective way to strengthen account security and reduce the risk of loss.