Positive Pay
Defense against check & ACH fraud
Positive Pay is a fraud prevention service which helps minimize risk against unauthorized payments and allows you to effectively manage your corporate checking accounts. It is a secure, automated matching service available within your Business Online Banking.
Check Positive Pay
When checks are issued, simply upload the list of issued checks to Heartland Bank. The system compares the uploaded check file information (check numbers, amounts, payees and account number) to the checks that are presented to the account number. If any of those four criteria do not match, the system will flag these as an “exception”. Email notifications inform you if there are exception items to review and decision. During your review process, you select if the item should be paid or rejected. Any rejected checks will be returned unpaid, mitigating fraud loss.
ACH Positive Pay
Similar to the check review process, ACH transactions trying to clear your account will be matched against your authorized list of allowed entities. These are referred to as ACH Rules. Discrepancies will be flagged as an exception for you to review and decision.
Benefits of this product include:
- Verification - Verifies the checks that are presented with the checks that have been issued. Verifies the ACH payments that are presented with your created list of ACH rules for authorized payments.
- Security - Provides an added layer of Security for your accounts against fraud.
- Eligibility - Any business checking account is eligible for Positive Pay. Accounts with large balances and high transaction volume will benefit most from this service.
Contact us today for more information!