Positive Pay and ACH Filter is one of the most powerful tools you can use to protect your company against check fraud
The basics of Positive Pay and ACH Filter 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 and ACH Filter system.
As those checks are deposited and reach us for posting, we compare the amount and the check number to the details you provided when it was issued.
If differences or discrepancies are found, the check is flagged, and placed in the "Exception" list for you to review.
You can then determine whether the check should be paid or returned.
It's a simple but powerful way to stop the most common types of check fraud.
Questions?
If you have questions, please contact us at 952-831-6600 during normal banking hours.