Check Positive Pay
Check fraud doesn't stand a chance.
Fraud protection? Check.
Protect your business against check fraud. Check fraud is the leading type of payment fraud today. Businesses and organizations are the primary targets of check fraud professionals. It’s a growing problem that costs billions of dollars each year. Check Positive Pay provides the peace of mind that only authentic, authorized checks will be paid from your accounts.
The Solution
Before you issue checks, you upload an “Issued Checks File” through
INSBANK Digital Banking which includes the written date, check number,
account number, and dollar amount for each check you have issued.
(Custom formatting available for additional fields)
As checks are presented to the bank for payment, they are electronically
matched with your Positive Pay Checks Issued. Only items that exactly
match will be paid from your account. Presented checks that do not match
are considered Exceptions.
Decisioning Exceptions is easy. You simply login to Digital Banking to view
Exceptions and then instruct INSBANK to accept or reject each item.
Exceptions not decisioned by cut off are rejected.
Benefits
• Check Positive Pay helps protect your account
from counterfeit, duplicate and altered checks.
• INSBANK Digital Banking is real time, so your
account is protected as soon as we receive
your issued items.
• Custom formatting is available for your Check
issue* files.
• Submit check issue* information 24 hours a
day, 7 days a week via Digital Banking.
• Upload a file of issues checks or input items
individually.
• Can be easily integrated with account
reconciliation programs.
• Saves you the time, money, and worry involved
in dealing with check fraud.
• Rejects will be processed as Refer to Maker
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