Check Fraud Protection. Positive Pay’s check fraud service is a simple and easy automated check fraud protection tool that monitors all checks clearing from your accounts. You simply upload a file to your online banking page with a list of your daily check items, including the check number, payee, and dollar amount. The bank then cross-references the approved list with a file of all checks being processed. If there are any discrepancies, you will receive a report to determine whether to pay the check or instruct the Bank to return it to the depositor.
ACH Fraud Protection. Positive Pay’s ACH fraud service is protection from unauthorized Automated Clearing House (ACH) entries. It puts the control of pay/no pay decisions for incoming ACH transactions into your hands by triggering an actionable alert when an ACH debit hits your account - enabling you to thwart fraudulent entries immediately. Receive notifications through multiple channels, including mobile and email notifications. With Positive Pay, easily identify trusted trading partners and automatically populate an “approved list” for future transactions.
For more information about Bank of Utah’s Business online banking, contact a Treasury Management Relationship Manager.