Positive Pay

A Tool to Prevent Check Fraud

With fraud on the rise, it is important to take every precaution to protect your business. Individual businesses have lost thousands of dollars due to check fraud, often from checks being stolen in the mail. The best way to prevent check fraud is to reduce the number of checks written, but there are some cases where checks are required. That’s where Positive Pay comes in! Positive Pay helps verify that the checks cleared match the checks you have written. However, there are cases where fraudulent checks can be missed. That is why it is extremely important to always review the check images as they clear to ensure they are legitimate.

Protection Against ACH Fraud

To initiate an ACH transaction, all the initiator needs is your routing and account number. Scammers have taken advantage of this and are making fraudulent ACH transactions that debit money from unknowing victims’ accounts. ACH Positive Pay allows you to verify incoming and/or outgoing ACH transactions to ensure they are authorized and not fraudulent.

Unlike standard Positive Pay where you enter your check information ahead of time, ACH Positive Pay will notify you when an ACH transaction is processed on your account. You can either choose to deny or accept the transaction. You can also set up rules so that recurring transactions that you expect (like a monthly payment to a vendor) will process automatically. ACH transactions include most electronic transactions on your account but do not include debit card transactions or transfers between NBM accounts.