Financial loss from check fraud reaches into the billions of dollars each year and affects companies of all sizes. Positive Pay from Horicon Bank is an effective fraud deterrent for your business. Your check issue details are matched against checks presented for payment. Any mismatched items are presented to you the next business day, and you’re able to make a pay or no-pay decision.
Positive Pay Benefits
- Positive Pay includes exceptions for unauthorized activity.
- Automated emails notify your company when exception items are present.
- Automated processing of submitted check issue files eliminates manual intervention when you submit check issue files.
- Check image integration allows you to view images of exception items.
- Deposit reconcilement summarizes deposit activity by branch/location.
- Integrated data mapping utility allows Horicon Bank to accept check issue file formats that are native to your accounting system, virtually eliminating custom interfaces.
- Online exception management enables you to make pay/return decisions via the web for check exceptions.
- Payee match electronically compares the submitted payee name to the payee on the check image.
- Reverse positive pay functionality provides you with added flexibility for fraud prevention options.