Protect your business from check and ACH fraud with Positive Pay
With fraud on the rise, taking measures to protect yourself can be invaluable. We recommend having an extra layer of security to safeguard your business's finances.
Positive Pay is a security tool for business accounts to protect against ACH and check fraud. It works by matching the check number, account number, and dollar amount of check payments against a list of checks previously issued and authorized by the company. An alert is triggered whenever an item does not match the list, and the company must decide to approve or reject the payment. By taking this extra precautionary measure, check fraud can be quickly identified and stopped.
Notifications will appear when you log in to your account, and alerts may also be sent via e-mail or SMS (text) messages.
Contact your local OCSB branch to inquire about Positive Pay today.
*Your business must be enrolled in basic Corporate Cash Management (Business OLB). To set up Positive Pay there is a one-time $25 fee. After setup, the service is included in the Corporate Cash Management fee.