ACH and Check Positive Pay are automated fraud detection tools that identify unauthorized transactions before final payment at no cost to your business. These free services allow you to filter or pay ACH and check transactions so only authorized payments will be paid from your accounts.
How do ACH and Check Positive Pay assist in combating fraud?
With ACH Positive Pay your business sets up a list of approved vendors that are paid automatically, along with the flexibility of adding expiration dates and filters that cap the amount of money that can be paid to any one vendor. Contact The Dime Bank to add vendors to the approved list when the first transaction occurs for ease of use. Any transaction that occurs outside of your approved vendors generates an alert so you can decide whether to approve or deny the transaction.
Check Positive Pay strengthens internal controls by comparing checks presented on your account against the checks you issued. It works by verifying check numbers, dollar amounts, and payees, then reports discrepancies back to you. If you identify a fraudulent check in the provided list, simply notify us in your business online account by the cutoff time to return the item.
Protect your business against fraudulent and unauthorized transactions by enrolling in ACH Positive Pay and/or Check Positive Pay:
- Reduce your potential exposure to check and ACH fraud.
- Transactions not meeting your criteria are sent to your business online banking account for your review and approval.
- Receive email alerts when you need to approve a payment and set up your own additional alerts.
- ACH and Check Positive Pay exceptions are both presented in your business online banking account.
- Contact The Dime Bank to add, edit, and delete rules for incoming ACH debit transactions by originator.
For more information on ACH & Check Positive Pay, visit your local branch or call us at 570-253-1970.
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