Positive Pay

What is Positive Pay

Positive Pay is an anti-fraud system that enables the bank and customers to work together to detect check fraud by identifying items presented for payment that the customer did not issue. When using this functionality, customers provide information about all checks they’ve issued by importing a file with that information. The system then validates all checks presented for payment to the customer’s account against the list of items provided from the customer.

Any checks presented for payment that were not issued, or whose details do not completely match the issued item become exceptions. Those details are account number, check number & check amount. Customers will review the exception items via Online Banking (OLB). This feature will also work for ACH transactions as well.

Why is Positive Pay Beneficial

Positive Pay will combat fraud by matching a check presented at a branch to the imported file on the system. If a check is deposited or cashed at a different financial institution and the check information has a discrepancy, it will register as an exception which will fall to the customer to decide on whether to pay or return that item. The customer has the responsibility to review presented items daily and make decisions on their exceptions.

How to get Positive Pay