Financial losses from check fraud reach into the billions each year affecting companies of all sizes. Positive Pay is a powerful tool for early detection and identification of potential fraudulent activity. It guards against check forgery and third-party fraud by daily matching each item presented against a current list of valid issued checks.
Early fraud detection is the key to protecting your business. Positive Pay makes that possible.
- Reduce risk of loss due to check fraud
- Identify exception items at the time of presentment
- Reduce your reconciliation effort by limiting the process to exception items only
- While having the bank match each check you write to a file you provide, you not only protect your funds, but you create an automated daily reconciliation process
- Easy upload process to report all issues
- Easy identification of exception items
- Ability to decision items that are suspended
- ACH Blockers available