Along with check items, ACH fraud detection triggers alert our customers to make a pay/no pay decision through online banking tools.
Automated Fraud Detection Tool
$75 per month. You have just one day to identify and report fraudulent activity on your business account, unfortunately it takes just one hit for your business account to be compromised. We’ve invested in new technology that alerts our subscribing businesses when an unapproved item is being presented by check or ACH. This allows business owners the control to approve or reject a transaction the same day. Don’t wait one more day to protect your money.
Benefits of Positive Pay
- Fraud protection
- Check verification
- Company decides to pay or not to pay
- Exception options
HOW Will Positive Pay Protect You?
Check Item – As you issue checks, you create an online data file with the payee name, issue date, serial number and dollar amount of each check. You then electronically send us your issue data file.
ACH Item – As ACH transactions are presented, you add them to your approved list or return the item. If added to approved list, recurring items only require approval once.
We utilize your issue data to verify the ACH items and checks that have posted to your account. Non-matching items are reported via a Positive Pay Exceptions Report for your review and payment decision.
Mismatch items are included on your exceptions report when using this tool. Simply make your pay or no-pay decisions online. We will even verify checks if they are cashed over the counter at our banking offices. We match these checks against your issue data, for no additional charge- a feature many banks don’t offer.