Photo of an ink pen on top of a blank check.

Positive Pay

At Union State Bank, we understand the importance of safeguarding your business accounts. Our Positive Pay service provides comprehensive fraud protection for your business, helping prevent financial losses associated with counterfeit or altered checks. 

Positive Pay significantly reduces the risk of check fraud by ensuring that only checks that match your pre-approved list are processed for payment. Our service works by automatically verifying key details—such as check number, account number, payee and dollar amount—against the checks issued. If a mismatch is detected, the check is flagged, and you will receive an automated email notification to review and approve or return the item.

Positive Pay is a valuable tool, particularly for businesses that:

  • Issue a high volume of checks
  • Write checks to the general public
  • Issue checks for large dollar amounts

 

Union State Bank’s Positive Pay service includes:
•    Single sign-on access through Business Online Banking
•    Check Positive Pay to prevent fraudulent paper checks
•    ACH Positive Pay for secure electronic transactions
•    Account reconciliation tools for simplified financial management
•    Payee Match Positive Pay, for enhanced fraud protection

1. Issuance Data Submission: The business provides the bank with a file containing details of all the checks they have issued. This file typically includes information such as check numbers, issue dates, payee and check amounts.

2. Verification Process: When a check is presented for payment, the bank compares the details of the check against the information in the file submitted by the business. This verification process involves scrutinizing key elements like the check number, payee and amount.

3. Exception Handling: If the details of a presented check do not match the information in the issued checks file, the check is flagged as an exception. The bank then notifies the business of these exceptions.

4. Business Review: The business reviews the flagged checks and decides whether to authorize or reject payment. This step ensures that any discrepancies are addressed before funds are disbursed.

5. Payment Decision: Based on the business’s feedback, the bank either pays the check or returns it unpaid.

We’ve made enrolling in Positive Pay simple. If you would like to opt in to Positive Pay services, please complete this online form.
 
Once enrolled, your Positive Pay experience begins with our Treasury Officer ensuring that your team’s training and financial technology interface needs are met.
 
After your Positive Pay service has launched, our Treasury team is available to provide ongoing support.
Payee Match is included with all Positive Pay services for enhanced security. Payee Match verifies the payee’s name on every check, adding an extra layer of protection by ensuring that only authorized transactions are processed. This helps prevent altered or counterfeit checks from being paid, giving you added peace of mind.
In addition to protecting checks, our Positive Pay service also includes ACH Positive Pay, which safeguards your business against unauthorized electronic transactions. With ACH Positive Pay, you can set transaction rules and review exceptions, ensuring that all ACH debits or credits are legitimate before being processed.
Positive Pay services can be used with any Union State Bank commercial checking accounts.
We support standard file formats (such as CSV or BAI2) that are compatible with popular accounting systems like QuickBooks, Sage, and others. Contact out Treasury Services team to inquire about specific software.
Yes, our system allow users to configure email alerts to notify authorized users when exceptions are detected or actions are required. 
Union State Bank’s Positive Pay service is provided at a fee of $50.00 per month and a one-time set up fee of $50.00.