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Fraud Defense

Powerful protection against check fraud.

Positive Pay® from Pinnacle Bank is the most effective method available to protect your business against financial loss due to check fraud. As the fraudulent production of checks becomes increasingly easy, Positive Pay® and automated account reconcilement services are critical to protect against fraud.

Fraud Defense with Positive Pay® has these benefits:

  • Reduce fraud: Timely notification of suspect items reduces the chance of fraud
  • Streamline the process: Online posting and the Internet enable a more efficient process for handling fraudulent checks
  • Gain control: Customers gain increased control over the payment of checks
  • Provide reports: Enjoy convenient and extensive reporting capabilities

Overview

Positive Pay® increases both the effectiveness and timeliness of fraudulent check detection over traditional systems, which rely almost exclusively on posted proof files to identify fraudulent checks.

With Positive Pay®, we can better monitor and detect unusual or unauthorized disbursement activity by comparing paid items against issue information to identify any discrepancies. As a business customer you can send us a file of each day’s issued checks. In return you receive a daily notification of exception items, either by fax or through your online business banking solution. This notification enables you to send handling instructions and import new issues notifying us of possible fraud.

As a business banking customer you will enjoy the capability to download a paid item file on a daily basis, as well as provide us with a daily issue file detailing outstanding items. This issue file helps control which checks are paid against their accounts, and guards against losses due to altered and counterfeit checks, as well as unauthorized items.

 

Get started today and contact a member of the Treasury Management Services Team.

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