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Positive Pay

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Positive Pay is a transaction monitoring service that protects your business against fraud. By monitoring your transactions and only allowing those that you've approved, Positive Pay reduces the risk of fraud in a streamlined, user-friendly experience.

FEATURES

  • Automatically monitors check & ACH transactions
  • Email alerts notify you of unauthorized transactions
  • View check images, ACH details, and reconciliation reports
  • Real-time check verification of all checks presented in person at the bank to be cashed
  • Online return processing.
  • Read the How it Works section below for an in-depth explanation
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HOW IT WORKS

CHECKS

  • When you issue a batch of checks, each check has specific details -- the date, amount, 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.
  • 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 Positive Pay and determine whether the check should be paid or rejected.

ACH (Electronic Transfers)

  • Transaction filters only allow authorized ACH transactions to clear your account.
  • You are notified via email of unauthorized transactions, called "Exceptions Items".
  • You can log in to Positive Pay to determine whether that transaction should be paid or rejected.

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