Positive Pay Can Save the Day
WHAT IS POSITIVE PAY? Positive Pay is a powerful fraud prevention tool to protect your business against check and ACH fraud. It detects suspicious transactions and reduces your risk of financial loss, safeguarding the reputation of your business.
HOW DOES IT WORK? The bank verifies all checks and ACH transactions on your account against your approved list. Any transactions that are not a match will be flagged for your review, and you will have the final say on if they are allowed to clear the account.
WHAT ARE THE BENEFITS?
- Protects your account against forged, altered, and counterfeit checks.
- Stops ACH transactions that have not been whitelisted in their tracks.
- You are notified immediately via email if an unrecorded check or ACH transaction is presented against your account.
- You can view the check images of flagged items before deciding on them.
- You have complete control to pay or reject an item that you did not record in the system.
- A bonus check reconciliation feature is available that shows a summary of issued, paid, voided, and outstanding checks.
IS IT HARD TO USE? Positive Pay is easy to use and can be accessed directly from your Adams Community Bank online banking portal.
For Check Transactions
- Using online banking, the customer uploads their latest issued check file from their accounting software. If you do not use accounting software, we can work with you to customize a file.
- All checks presented on the account are compared to their uploaded list.
- If any item, such as check number, amount, or issued date, does not match, the check is flagged for your review, and you are sent an exception email.
- You review the item and decide to pay or reject it.
For Incoming ACH Transactions
- ACH transactions are presented on the account.
- Each new vendor will flag for review, and you will be sent an exception email.
- You will whitelist vendors as appropriate and set rules based on dollar limits.
ARE YOU INTERESTED? Contact Kalee to schedule a meeting, set up a demo, or sign up for the service.
Cash Management Portfolio Manager
Direct Line: (413) 749-1178
Fax: (413) 749-6119