Protect Your Accounts Against Check Fraud With Positive Pay
If you have ever had check fraud, you probably don’t want another experience like that again. This service allows you to filter or pay check transactions so only authorized payments will be paid from your accounts.
Positive Pay is a system used to help detect counterfeit and fraudulent checks through our convenient CB Cash Management service. It helps
prevent CHECK FRAUD by verifying the check numbers and dollar amounts on checks and comparing them to the check file uploaded through
our banking system.
How does it work?
The customer will prepare a file after checks are issued. Once prepared, the file will be directly uploaded into the Positive Pay system in CB Cash
Management. The frequency of how often the file is uploaded will depend on the frequency of checks written. When the payee presents checks from the company for payment, the bank’s electronic system compares them against the list and only those checks that match completely are honored. Any
checks that do not match the list are not paid and an exception list is emailed to the customer.
To speak with a Cash Management representative to protect your account against fraud, contact Nancy Witte at 320-587-2233.
