Positive Pay for ACH Fraud Protection
How is ACH Positive Pay different from Positive Pay for checks?
Positive Pay for checks validates each individual checks based on our three-way match. ACH Positive Pay allows you to preauthorize the originator of the ACH. It also gives you the control to create rules for each ACH originator, such as transaction dollar amount limits. Similar services are sometimes called “ACH Debit Blocks” or “ACH Filters.”
Our ACH Positive Pay system gives more control to your business by allowing you to manage these authorizations through Commercial Online Banking. We provide on-demand access to the companies on your authorized list and the rules you have established. You can add new authorized companies to your list as needed or remove authorizations when a company is no longer allowed to debit your account.
Here’s an example of how ACH Positive Pay works:
You have authorized your company’s internet service provider to automatically debit (or “draft”) your account each month for your internet service. ACH Positive Pay allows you to add that provider to your list of authorized ACH companies. You can also add rules that notify you if that provider submits an ACH debit that exceeds a certain dollar amount.
How does it work?
Step 1: Create rules within Commercial Online Banking that allow you to control which companies can debit and/or credit your account by ACH. The rules are based on the company’s ACH originator ID, which can be provided to you by the company, or obtained from a previous ACH transaction submitted by that company.
Step 2: Review any exception items. An email is sent to you each morning notifying you of any unauthorized ACH transactions. Access online banking through our website or mobile app and choose to pay or return them before the deadline.
What happens if I don’t process my exceptions by the deadline?
A “default decision” (pay or return) that is chosen by you prior to setup will apply to any exception items not reviewed by the deadline.
What makes it effective?
Our system performs a three-way match on incoming checks by comparing the check number, dollar amount and payee name with checks you have preauthorized.
How does it work?
Step 1: Submit a list of your preauthorized checks through Commercial Online Banking. You can accomplish this by uploading a check file created within your accounting system or by manually entering the information online.
Tip: An issued check file is likely already available within your account system. We’ll help you format the file to make it easy to save and upload it into our system.
Step 2: Review any exception items. An email notification is sent to you each morning if any presented items do not match your authorized list. Access online banking through our website or mobile app and choose to pay or return them before the deadline.
Contact a Treasury Management team member to get started.
Additional terms, conditions, and fees may apply.