With over $40 trillion in financial transactions processed annually by the Automated Clearing House Network (ACH), the risk of fraud has skyrocketed.
Don’t leave your business vulnerable – Positive Pay® Check and ACH ensures that only authorized parties can debit your bank account, safeguarding your funds and giving you peace of mind.
Features to help you defeat fraud:
Positive Pay® Check
- Choose from Standard, Standard with Payee Match and Reverse Options.*
- Direct data upload to system.
- Default Pay/Return** settings ensure instructions are systematically carried out.
- Notification of unauthorized items available.
- Review items and approve payment or return through Online Banking.
Positive Pay® ACH**
- Choose to review ACH Debit and/or ACH Credit.
- Add vendors to an approved list or as cleared.
- Allows blocking of specific vendors by company ID in advance.
- Create notification rules to determine who receives alerts and the conditions that trigger Positive Pay ACH Alerts.
*Standard verifies check number and amount. Payee adds payee info. Reverse is suited for small businesses with few checks. A file is not involved. Instead, you review images of all checks paid from Online Banking the previous day. Return any appearing fraudulent.
**Pay All Checks/ACHs- Automatically pays all items not entered as issued if you do not log onto the system before 12pm EST and take action to otherwise return the potentially fraudulent item(s). Return All Checks/ACHs- Automatically returns all items not entered as issued if you do not log onto the system before 12pm EST and take action to otherwise pay potentially authorized item(s).
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Get started today and contact a member of the Treasury Management Services Team.
