Protect your company against check and ACH fraud
The basics of Positive Pay are very simple. When you issue a batch of checks through your accounting program, each check has a certain profile - the date, the amount, the payee, and the account on which the check is drawn. Those records are exported from your accounting program, and imported to the Positive Pay system.
As those checks are deposited and reach us for posting, we compare the details of the check to the details you provided when it was issued. If discrepancies are found, the check is flagged, and placed in the Positive Pay Quick Exception Processing list for you to review.
Similiar to checks, ACH transactions also have a unique profile - the account, the amount, the Company ID, a transaction type and the standard entry class (SEC) code. As ACH transactions reach us for posting, we compare the details of the ACH to the authorization rules you have in place. If discrepancies are found, the ACH is flagged, and placed in the Positive Pay Quick Exception Processing list for you to review.
It's a simple but powerful way to stop the most common types of check and ACH fraud.
Questions?
If you have questions, please visit our Help Center, or contact us for assistance.