Positive Pay
Service Suite
Positive Pay
Powerful Anti-Fraud Tool to Protect Your Business Account from Unauthorized Transactions
Check & ACH Positive Pay Service:
Positive Pay is a powerful anit-fraud tool you can use to protect your business account from unauthorized transactions. Our Positive Pay service, help you to manage payment risk from fraudulent checks and electronic ACH items. You can take control and be proactive about fraud.
Benefits of Positive Pay:
- Expedite the approval or rejection of suspicious transactions, giving you peace of mind effective
- Reduce exposure to check and ACH fraud.
- Gives tellers access to the most current check information available when cashing items.
- Protection against payee alteration.
- Helps stop unauthorized checks and debits from clearing your account.
- Avoid potential losses related to fraud and unauthorized transactions.
How Does Check Positive Pay Work?
- Client transmits Positive Pay file or manually input issued check details (check number, amount, account, and payee) within OLB.
- Each night after posting incoming checks, City Bank compares the details of the check to the details you provided when it was issued.
- If discrepancy is found or has already been marked as “paid,” it will be listed on the customer positive pay exception list for review.
- City Bank will notify you via email that you have an exception item to review. The customer will need to determine if the check will be paid or rejected.
- All exception must be managed by 10 AM.
How Does ACH Positive Pay Work?
- Customer creates and manages rules for an approved vendor list with limits.
- If an ACH transaction received is not on the approved vendor list with set rules, City Bank will notify you via email and it will be listed on the exception report.
- Upon receipt of the email, customer must login to ACH Positive Pay through OLB to accept or reject item.
- If accepted, you can then add that vendor to your approved vendor list.
- All exception must be managed by 10 AM.
Allow this valuable service to work for you!
We understand the importance of safeguarding your business against fraudulent activity.