Positive Pay

Positive Pay is a fraud deterrence tool that assists with the identification of unauthorized checks when they are drawn against your commercial account. Examples of unauthorized checks include counterfeit or altered checks. You may also choose to validate all paper checks that are presented for payment instead of sending a check data file.

Benefits

  • Reduce’s your company’s exposure to check fraud
  • Easily integrated with account reconciliation services
  • Internet based image delivery to your desktop streamlines the pay/no pay decision process

How It Works

Your organization will electronically deliver issued check data (account number, check serial number, dollar amount and date) to us each time you write checks. We store this data and compare it to checks as they post to your commercial account. If a check is presented for payment that does not match the data you have provided, that check is termed a “suspect item”. You will be notified via email early the next business day that a suspect item has been presented for payment. A secure portion of our website is available for you to inspect the image (front and back) of the suspect item in order to determine its validity. You will have until 12:00 p.m. that day to instruct the bank to pay or return the item.

For more information, call us at 1.800.205.3464 or email us.

 

Already a client? Sign in to your Positive Pay account here.

Service provided by SAND eCRM ASD Corporation.