Florence Bank Business Online Banking

Positive Pay – Overview Positive Pay is a powerful fraud prevention tool used by business customers to prevent against check and ACH fraud. Florence Bank’s Positive Pay Service helps your business detect suspicious transactions, reducing the risk of financial loss and safeguarding the reputation of your business. Positive Pay allows you to view and compare checks presented for payment against an electronic check issue file to identify fraudulent items. You can enter your issued checks directly into the Positive Pay system or upload an issue files from your computer. Presented checks are compared against the list of checks you have issued on a nightly basis, ensuring the information contained matches the issued check entered. When a discrepancy between the presented check an issued check is detected, it is flagged as an exception. The system notifies you of any exceptions via email, allows you to view images of the checks and exceptions, and then allows you choose to either pay or return the items. You also have the option to set up ACH authorization rules or filter blocks for complete fraud prevention. Depending on your needs, you can choose to block specific ACH transactions or authorize only specific vendors to access your account.

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Florence Bank Cash Management