Positive Pay Services

Monitoring and controlling account activity is a primary concern for all businesses. Positive Pay is comprehensive risk management software available through TFB Business Online Banking. Positive Pay software alerts businesses to potential fraud before it impacts the bottom line. Increase efficiency and add value to your Business Online Banking experience. Help protect your business from check and ACH fraud with TFB’s Positive Pay Services.

How does Positive Pay work?

Report the outstanding checks you have written, voided or stopped on a daily basis using a template-based check issue file template customized for your business. Submit the file through Business Online Banking. Positive Pay will automatically recognize the checks that match your files as they are presented for payment.

When those issued checks are presented for payment at TFB, they are compared to the check-issue file by check number, account number, issue date, and dollar amount. Checks presented that do not match the file become "exception items".

Exception items trigger an e-mail notice to authorized personnel within the business. All items presented that do not match or appear to be duplicated are listed within Business Online Banking along with the image, so you can decide whether to pay or return them. All electronic transactions (ACH, debit card and bill pay) are presented automatically.

What are the Benefits of Positive Pay?

Increased Operational Efficiency

  • Receive e-mail alerts when there are exceptions.
  • Substantially reduce time spent performing manual account review.

Real-Time Fraud Mitigation Controls

  • Be informed of potential fraud.
  • Authorized users control how exceptions are handled by selecting a decision which is automatically sent back to the bank for action on the same business day.
  • Exception information includes the amount, an image of the item (if it is a check) and the source.

Real-time Alerts for Check Presented in TFB Branches

  • Checks presented for cash at TFB branches are compared to each business check issue file.
  • Any mismatched or duplicate items presented for cash are identified and referred to the branch manager or bank officer for further investigation.

For more information on Positive Pay, please contact us.

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