Fraud monitoring for your business accounts.
Positive pay is a transaction monitoring service that protects your business against check fraud. By monitoring your check transactions and only allowing those that you've approved, Positive Pay reduces the risk of fraud in a streamlined, user-friendly experience.
How it works:
- When you issue a batch of checks, each check has specific details - the date, amount, payee name, and the account from which the check is drawn. This is called an "Issued Check File."
- Your Issued Check File is exported from your accounting program and imported into Positive Pay through our Online Banking system.
- As those checks clear your account, Positive Pay compares the details of each check to the Issued Check File to ensure they are correct.
- If a check does not match the details in the Issued Check File, you are notified via email that you have an "Exception Item" to review.
- You can log in to Online Banking and determine whether the check should be paid or rejected.