Help protect your company from check fraud with Trans Pacific National Bank’s Positive Pay Services. Positive Pay is a check fraud detection tool to reduce the risk of fraudulent activity on commercial checking accounts. Each business day checks that are presented for payment against your business account will be available for your company’s review using Business Online Banking before the final payment.
With Positive Pay Fraud Protection, You’ll Enjoy These Benefits:
- Reduced fraud risk – Protects against most counterfeit check fraud and altered checks. Scan for paid checks that do not have a matching issue. Scans for duplicate checks. Timely return of unauthorized transactions.
- Save time and money – No hardware purchase is required, Positive Pay is available via Business Online Banking.
- Automated service – Ease of account reconciliation. You receive e-mail notifications when daily exception items are available for review.
- Convenience and flexibility – Provides online check images for assistance with suspect item review. User-friendly screens for item approval, rejection and check image review. Allow multiple daily transmissions.
Positive Pay Is Highly Recommended For
- Businesses with a high check volume
- Businesses that want the added assurance of knowing only approved checks will post to their account
- Businesses issuing checks to the general public that are easily subject to potential fraud
How Does Positive Pay Work?
Your company sends (transmits) a file of issued checks via Business Online Banking to Trans Pacific National Bank on the same day checks are issued prior to mailing.
Positive Pay will compare the checks presented for payment with the check issued file that contains the following:
- Check number
- Account number
- Issue date
- Dollar amount.
Exceptions are identified and reported to you via daily e-mail notifications so that you can log on to TPNB Business Online Banking, review the exception item(s) and instruct the bank to pay or return the check before the cut-off time 11:00a.m. PST.
Reverse Positive Pay
With Reverse Positive Pay, there is no need to transmit file of issued checks to the bank via Business Online Banking. Instead, checks exceptions are identified and reported to you via daily e-mail notifications so you review all checks presented for payment and determine if they should be paid or returned.
Not enrolled in Positive Pay?
For more information, please contact your account officer or stop by your local branch. You may also e-mail us at tpnbTAS@tpnb.com for information inquires.