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Positive Pay
Protect your business from fraud with automated verification for checks and ACH payments. Positive Pay adds a critical layer of security to catch discrepancies before funds leave your account, helping you stay in control and safeguard your cash.
What is Positive Pay
Positive Pay is an automated fraud mitigation service provided by The Hicksville Bank to business customers to help prevent fraud.
*Monthly fee applies for each service
*Monthly fee applies for each service
Advantages of Positive Pay
Automates Fraud Prevention Processes
Positive Pay automates fraud prevention by adding an additional safeguard to validate the payment details. Manually keeping track of all your checks can be an error-prone and daunting task.
Peace of Mind
Positive Pay reduces check fraud by identifying possible fraud schemes. This is achieved by having the bank match key elements of checks being presented for payment such as check number, amount, account number, and payee to a list of valid checks issued by the company. If any of the key elements do not match, the check is returned thereby short-circuiting a fraud attempt. This extra layer of investigation allows the business owner to fight back against check fraud and help protect one of its most valuable assets - CASH.
Positive Pay automates fraud prevention by adding an additional safeguard to validate the payment details. Manually keeping track of all your checks can be an error-prone and daunting task.
Peace of Mind
Positive Pay reduces check fraud by identifying possible fraud schemes. This is achieved by having the bank match key elements of checks being presented for payment such as check number, amount, account number, and payee to a list of valid checks issued by the company. If any of the key elements do not match, the check is returned thereby short-circuiting a fraud attempt. This extra layer of investigation allows the business owner to fight back against check fraud and help protect one of its most valuable assets - CASH.
Check Positive Pay + Payee Match
Check Positive Pay is an automated cash-management service offered by The Hicksville Bank to deter business check fraud. The system matches the checks a company issues with those that are presented for payment. Any check considered suspect is examined and decisioned by the business customer for instructing the bank to return the item if discrepancies are found.
ACH Positive Pay
ACH Positive Pay is an automated cash-management service offered by The Hicksville Bank to deter business ACH fraud. The service allows the business customer to review all incoming ACH debits (& credits if requested) before the items clear their checking account and, if applicable, instruct the bank to return the item if discrepancies are found.