Stop fraud in its track – automatically.
Positive Pay ensures your business is protected from the risk of check fraud.
Positive Pay is a comprehensive fraud prevention service that adds an extra layer of security to your business banking. It helps you detect and prevent check and electronic payment fraud by comparing the checks you issue with those presented for payment.
How Does Positive Pay Work?
Submit Issued Check
Easily upload a list of checks you’ve issued through our secure online portal.
Include details such as check numbers, amount, and issue date.
Check Matching
FVSBank compares the checks presented for payment against your submitted list.
Any discrepancies are flagged for your review.
Decision Making
Detailed reporting for matched and unmatched items.
Pay, Return or Investigate any discrepancies.
Key Features of Positive Pay
- User-Friendly Interface
- Customized Alerts
- Reduce Fraud Risk
- Secure Encryption
Positive Pay FAQ
What is Positive Pay?
Positive Pay is a fraud prevention tool that helps businesses protect their checking accounts from unauthorized transactions. It allows companies to review and approve checks and ACH debits before they are processed.
How does Positive Pay work?
Businesses submit a list of approved checks (with details like check number, amount, and payee) or authorized ACH transactions to the bank. When checks or ACH items are presented for payment, the bank matches them against the list. Any discrepancies are flagged as exceptions for review.
How does Check Positive Pay help prevent fraud?
Check Positive Pay compares checks presented for payment against a list of issued checks provided by the business. If a check does not match the provided list, it is flagged as an exception, requiring approval or rejection.
How do I enroll in Positive Pay?
Contact your FVSBank Business Banker to set up Positive Pay. You may need to provide a list of approved checks or ACH transactions and configure alert preferences.