Fraud affects nearly three-quarters of U.S. businesses each year, costing billions of dollars in losses. Positive Pay is an exceptionally effective way to keep your business from becoming another statistic.
The concept is simple: When your company sends out a batch of checks, you transmit a list to TCU that includes the account number, check number and dollar amount. When someone tries to deposit or cash one of the checks, it is checked against the master list. If any of the three components don't match, we raise a red flag on your behalf. With ACH you set up pre-established parameters for allowable transactions. If a transaction occurs outside of these parameters, you will be notified to review and approve the transaction.
Additional fees and other conditions apply. See Business Products and Services Details for more information.
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