Positive Pay

Positive Pay provides an extra layer of protection to protect commercial accounts against forgery, altered checks, and counterfeit checks. It allows the bank to verify checks presented against a file the customer submits of their outstanding checks daily.  This is a service that matches the account number, check number, payee name, and dollar amount of each check presented for payment against a list of checks previously authorized and issued by the company. All four components of the check must match exactly or it will not pay.

• Fraud Control – you get enhanced ability to identify and return fraudulent items.
• Check Verification – all checks presented for payment are verified. Positive Pay also protects against lost, stolen, and duplicate checks.
• You decide whether to pay a check or not – Make decisions about whether to pay or return exception items.

*This is a FREE service.

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