Positive Pay is a powerful tool for businesses to help protect themselves from fraud.
Positive Pay is a customer-directed filtering service that helps businesses monitor account activity for potentially unauthorized transactions. Your business establishes applicable parameters for ACH and/or check transactions. Transactions that do not meet those criteria are flagged as exceptions for your review, allowing your business to promptly determine whether a transaction should be paid or returned.
Check Positive Pay
First Farmers & Merchants Bank offers two types of Check Positive Pay.
Standard Positive Pay matches checks issued by your business with checks that are presented for payment. Any discrepancies based on the matching criteria established by your company are flagged as exceptions for review.
Reverse Positive Pay is typically used by businesses who do not issue many checks. All checks presented for payment are flagged as an exception to be reviewed.
With both Standard and Reverse Positive Pay, your business is responsible for reviewing exceptions and deciding whether each check should be paid or returned within the applicable decision deadline.
ACH Positive Pay
ACH Positive Pay is a customer-directed filtering service for incoming ACH debit transactions originated by other parties. Your business will determine which vendors are authorized to debit your account and can establish additional parameters such as maximum amount and frequency. Any ACH debits that do not meet this criteria are flagged as exceptions for your review.
*Contact your local branch to learn more about these services and applicable fees.