Prevent Electronic and Check Payment Fraud
Potential losses for your business from payment fraud can be substantial. Our Positive Pay solution can help identify fraudulent checks and prevent lost revenue. With ACH Transaction Blocks and Filters, you can control the level of safeguards you want to validate ACH entries to further protect your business.
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Positive Pay
Positive Pay is a process to detect check fraud by identifying items presented for payment that don’t match the items you issued. Here's how Positive Pay works:
- After each check production run, you will provide the bank with an “Issue File” that contains a list of checks written against your account.
- We then provide you online access to a “Suspects Report” of checks presented to us for payment on the prior business day. Suspect items that appear on the report are determined by mismatches in comparing checks against your issue file or those that meet criteria you have designated, such as stale date, amount exceeding a set dollar value or the optional service of looking for payee name discrepancies.
- You can review these items via online banking and decide whether they should be paid or returned.
ACH Transaction Blocks and Filters
Like Positive Pay, Automated Clearing House (ACH) Blocks and Filters provides you with the tools to proactively prevent unauthorized transactions on your account.
- ACH Transaction Blocks and Filters involves maintaining a list of ACH transactions that you've “pre-authorized” that the system will compare and verify.
- Depending on your instructions for ACH Blocks, ACH debits and/or credits will be automatically stopped from unexpectedly settling against your account and returned to the initiator as unauthorized.
- With ACH Filters, only originators with certain company IDs that you specify will be able to post ACH transactions to your account, while all others will be returned automatically.
Get Started Today
If you're ready to take the next step in protecting your business from payment fraud, our Treasury Management team would love to connect. Answer a few quick questions and our team will be in touch.