Positive Pay
Preventing fraud with Check and ACH Positive Pay:
Sandy Spring Bank’s Positive Pay services are a proactive approach to combating check and ACH fraud and provide greater peace of mind for you.
Or, call 866.867.1570.
Protection with Benefits:
- Reduces fraud — Identifies paid checks or electronic debits your company may not have issued or authorized.
- Effective monitoring — Reduces the need for manual fraud prevention measures by alerting you to occurrences of check and ACH fraud.
- Minimizes disruption — Avoid the inconvenience and cost of closing accounts and open new ones if a fraud incident occurs.
- Online accessibility — Submit approved transactions and review Check and ACH Positive Pay exception items.
How does Check Positive Pay work?
From high-tech counterfeit checks to simple forgeries, business checking accounts are targets for fraudsters. Sandy Spring Bank’s Check Positive Pay allows you to electronically share your check register for all written checks with the Bank. We will only pay the checks listed on your register according to precise specifications you provide, such as amount, serial number, check date, etc.
Watch the Check Positive Pay Business Online Banking Tutorial:
How does ACH Positive Pay work?
As check fraud has increased, so has electronic ACH fraud. ACH Positive Pay allows you to prevent unauthorized electronic debits from posting to your account by controlling who you will accept ACH transactions from. You can create filters to allow specific transaction types to post to your account and prevent other transaction types from posting to your account. You even have the ability to block specific transactions over a certain dollar amount. When alerted of an ACH transaction that was not preauthorized, you can either approve or reject the transaction.
Watch the ACH Positive Pay Business Online Banking Tutorial: