Positive Pay is a powerful fraud detection tool designed to help commercial customers reduce the risk of losses occurring because of check fraud.
Positive Pay allows customers to preauthorize checks on their accounts by providing the bank a list of all checks issued. When checks are presented for payment on a Positive Pay protected account, the check is compared against the preauthorized issue file. Any check that fails to match the authorization will be stopped as a suspect check. These suspect checks are then presented to customer for payment options.
To learn more about this Positive Pay, please contact our Commercial Client Service Representatives 800.624.6452 or visit your local branch.