Positive Pay Fraud Prevention
Positive Pay is a powerful fraud prevention tool used by business customers to protect against check and ACH fraud. First State Bank's Positive Pay Service helps your business detect suspicious transactions, reducing the risk of financial loss and safeguarding the reputation of your business.
Watch the ACH & Check Positive Pay Video Tutorial
Positive Pay Frequently Asked Questions
How does Positive Pay work?
Your business uploads a file containing issued check data into the Positive Pay system. Checks presented for payment against your account are compared to those issued by the business. Any check not on the issued check list (and potentially fraudulent) is sent to you as an exception for examination. The business logs in to the Positive Pay system, reviews the exception item and makes a "pay" or "return" decision for each item.
You also have the option to set up ACH authorization rules or filter blocks for complete fraud prevention. Depending on your needs, you can choose to block specific ACH transactions or authorize only specific vendors to access your account.
Can multiple users access Positive Pay?
Yes. Your business will designate an administrator of the Positive Pay service. The administrator can add additional authorized users with specific user permissions with access by account and by function.
What information is needed in the issued check file?
Only 4 pieces of the check information are needed: Check Number, Issue Date, Payee and Amount. The issued check file may contain additional information, such as memo, but is not required.
What if a check is written after a file has been submitted?
If a check is written after a file has been submitted, you can either send a new updated file or submit the check(s) using the Manual Issue Entry option. This option will allow you to enter a single check or a series of checks without having to create and upload a new file.
How can Positive Pay help with Account Reconciliation?
With Positive Pay, mismatched checks are identified sooner and account activity reconciled with increased accuracy. The Positive Pay system will allow you to view a summary of issued, paid, voided, and outstanding checks.
Can my business export check transaction history for Account Reconciliation?
The Positive Pay service allows you to export your check transaction history as a CSV file type. You will have the ability to filter by the issuance status (outstanding, paid, returned, stops & void), start/end date and by specific accounts.
Are there fees associated with Positive Pay?
No, Positive Pay is a complimentary feature provided by First State Bank.
How do I sign up for Positive Pay?
Contact our Accounting Services Department at 515-832-2520 to get started and learn more today!
Learn more about ACH & Check Positive Pay available at First State Bank in the video tutorial below. Contact a member of our Accounting Services Team for assistance with your Electronic Business Services by calling 515-832-2520 or by email.
