PREVENT CHECK FRAUD
POSITIVE PAY SERVICE
WHAT IS POSITIVE PAY?
Positive Pay is a check fraud detection service for our business customers that reviews checks at the point of presentment and prevents them from being paid if they were not authorized by the business. Any check considered fraudulent is sent back to the issuer for examination.
DID YOU KNOW CHECK FRAUD IS THE SECOND LARGEST CATEGORY OF FINANCIAL FRAUD?
WHY POSITIVE PAY?
Businesses are the primary targets of check fraud professionals. With annual losses estimated to be in the billions of dollars, these losses are steadily growing as criminals are learning new and improved ways to commit fraud.
HOW DOES POSITIVE PAY WORK?
Upload a list of checks written from your business checking account or input the information per checks written.
• Check batches can be uploaded from several different accounting software programs including QuickBooks, Quicken, and many more.
• Or create a simple template with an Excel spreadsheet.
• File imports should include the check number, date, amount, and payee.
Adams Bank & Trust compares checks that are presenting to your accounts to the list of checks you authorize to be paid.
• If there are discrepancies, you will receive an email notification to make the decision to pay or return the checks.
You are in control. We act in accordance to your instructions.
FOR MORE INFORMATION OR TO ENROLL IN POSITIVE PAY,
LISA BEARD
vice president,
treasury management O | 970.624.3686
LKBEARD@ABTBANK.COM
HARRISON ADAMS treasury management relationship coordinator O | 970.624.3681 HRADAMS@ABTBANK.COM