Positive Pay is an anti-fraud system that enables the bank and
customers to work together to detect check fraud by identifying items presented
for payment that the customer did not issue. When using this functionality,
customers provide information about all checks they’ve issued by importing a
file with that information. The system then validates all checks presented for
payment to the customer’s account against the list of items provided from the
Any checks presented for payment that were not issued, or whose
details do not completely match the issued item become exceptions. Those
details are account number, check number & check amount. Customers will review
the exception items via Online Banking (OLB). This feature will also work for
ACH transactions as well.
Why is Positive
Positive Pay will combat fraud by matching a check presented at a
branch to the imported file on the system. If a check is deposited or cashed at
a different financial institution and the check information has a discrepancy,
it will register as an exception which will fall to the customer to decide on
whether to pay or return that item. The customer has the responsibility to
review presented items daily and make decisions on their exceptions.
get Positive Pay
Newfield National Bank will create Cash Management and
Positive Pay Agreements and Contact forms to send to the customer for
After all forms are signed
and returned by the customer, their access will be provided to reflect positive
pay functionality and training will be scheduled with a bank representative.