Positive Pay and how it can Protect You from Fraud
Positive Pay is a service offered by banks that is designed to reduce fraudulent check-cashing against your account. If you are writing checks on your bank account, then the positive pay service may be beneficial to your business.
How Positive Pay Works
When you activate positive pay, you must send a file of checks that you have written to the bank. Those checks will not be cashed against your account unless they match by check number, dollar amount, and account number. Your file may Read more [...]