Check tampering remains a threat to businesses despite the popularity of electronic payments. The counterfeiting of checks is on the rise due to the sophistication in color copying and publishing. Positive Pay allows you to protect your business from fraud threats by check.
With Positive Pay, you can automate fraud detection. Your company will provide a list of issued checks (daily or on the days checks are written). When your corporate check is presented for payment, Austin Bank will confirm the validity of each check by comparing it to the list you have provided us. Any checks that do not match will be sent back to you for review, allowing you the opportunity to reject fraudulent checks before the funds are withdrawn from your account.
To add this feature to your Austin Bank account, speak to a Treasury Management officer today.
Convenient, automated tool that
confirms checks digitally.
Controls against fraud -
ensures only valid checks get cashed.
Verify each check to receive protection from
lost, stolen or duplicate checks.