Online Banking

Protect your account against check fraud

Cubbank Beyondexpectations

Payee Check Positive Pay

Positive Pay saves you from the hassle that arises when forged or altered checks clear against your bank account. Positive Pay makes it easy for you to protect your account against check fraud. No matter how big or small your business is, if you use checks, you'll benefit from the security Positive Pay brings.

 

Types of check Fraud Positive Pay Prevents

If your business hasn't been a victim of check fraud yet, it quite possibly could be. Check fraud is a costly problem for businesses. According to the 2019 AFP Payments Fraud & Control Survey, 70% of organizations have been exposed to check fraud. Some of the most common types of check fraud include:

  • Counterfeit checks
  • Altered Checks
  • Payee
  • Dollar amount
  • Forged signature
  • Stolen blank checks

 

How Positive Pay Works

Simply upload a file with information on the checks you issue, and Positive Pay ensures that the checks paid on your account match. This procedure prevents outside unauthorized checks from being processed. In addition, you are notified of check discrepancies and can determine whether to pay or return the check.

 

Benefits of Positive Pay

  • Direct data upload to the Positive Pay System
  • Check information can also be key entered for manual updating
  • Notification of unauthorized items
  • Review items and approve payment or return through Online Banking
  • View check images conveniently from your desktop

 

For more information contact us:

(502) 267-3538

treasuryservices@cubbank.com