What is Positive Pay?

Positive Pay is a free check fraud prevention service available to our business customers. It is designed to prevent check fraud by matching checks presented for payment against a list of authorized items. Positive Pay is one of the most effective tools available to help protect your business account against check fraud.

Key benefits of Positive Pay include:

• Fraud Detection and Prevention: Automatically detects unauthorized or altered checks before they are paid.
• Improved Account Control: Businesses provide issued check details; the bank only pays verified checks.
• Flexibility: Choose the version of Positive Pay that best fits your business needs.
• Reduced Financial Loss: Stop fraudulent checks from clearing, saving money and reducing your liability.

Types of Positive Pay

Traditional Positive Pay

Traditional Positive Pay works by allowing the bank to verify each check presented for payment against a list of checks authorized by you. Alerts are generated if the details of the check presented to the bank do not match the details uploaded by you.

• Easy access through Digital Banking to upload checks issued (as a file or individually) to monitor checks with exceptions.
• Alerts via text message or email are sent for any exceptions, which require you to make a decision to pay or return the item.
• Monitor for fraud as checks are presented.
• Return/pay transactions by 11:00 A.M. CST daily/
• Recommended for businesses that write 50 or more checks a month.

Reverse Positive Pay 

Reverse Positive Pay works by alerting you to verify each check presented for payment.

• Issued items are not uploaded to Digital Banking.
• All checks presented will alert you (via text message or email) as an exception in Digital Banking for you to decide daily.
• Monitor for fraud as checks are presented.
• Each access through Digital Banking to monitor exceptions.
• Return/pay transactions by 11:00 A.M. CST daily.
• Recommended for businesses that write fewer than 50 checks a month.

Utilize the Check Block feature on accounts where no checks will be written for the most fraud protection.

Contact your nearest Independence Bank location to enroll. Have questions? Contact us at 1-877-621-1776, visit your nearest Independence Bank location, or scroll to the bottom of this page to leave a message for our team.