Positive Pay is a powerful fraud prevention tool used by business customers to protect against check and ACH fraud. Park State Bank Positive Pay Services help your business detect suspicious transactions, reducing the risk of financial loss and safeguarding the reputation of your business.
Check positive pay
Positive Pay works by matching the dollar amount of each check, the check number and the account number that is presented for payment against checks that have been previously authorized and issued by the business. If these three components do not match up, the check is not paid.
How it Works
- You will upload a spreadsheet listing the checks you have written and authorized
- If someone attempts to deposit a check from your business account that does not match, you will be able to review the checks and decide by a certain time of day, and decide whether or not the item is paid
ACH Fraud Filter
ACH Filters provide an essential added layer of security towards safeguarding your assets by automatically blocking or filtering out unauthorized ACH transactions. You can either block all incoming debits with ACH blocks, or designate a list of authorized debits/credits with filters.
How it Works
- You will provide a list of authorized ACH debits to the Bank
- If an incoming debit comes through that is NOT listed as an authorized debit, it will be blocked
- Signed Treasury Management Services Agreement
- Signed ACH Filter Enrollment Agreement (for ACH Fraud Filter)
- Must be enrolled in Cash Management Online Banking (fees apply)
- Ready to get started? Contact us.
*Fees may apply. Requirements and fees as of September 28, 2021. Subject to change at any time.