Prevent Check Fraud Before It Happens with Positive Pay
It only takes one time for check fraud to make a big financial impact on your business. Unfortunately, it’s still a rising threat. As a away to combat check fraud and even keep it from happening in the first place, Citizens National Bank is introducing Positive Pay. This product works within Online for Business to automate check fraud detection.
How does it work?
The business creates a file of all the checks it’s issued and uploads it to the Positive Pay system. As checks are presented for payment, they are compared to the information in that file to be sure the information matches. Fields include: payee, account number, check number and dollar amount. If any do not match, it is flagged and the business has the opportunity to pay or reject that check before any money ever leaves their account.
Positive Pay is available to any Online for Business customer. The monthly fee includes access to the system and support from our Online for Business specialists in setting up the templates. The business owner may review all exceptions up to the daily cutoff time and make the decision whether or not to pay them. If your business writes a large amount of checks, consider the peace of mind this product can offer in ensuring check fraud is detected and losses are prevented.
To see how it works, view the demo.