Protect your business from fraud. Positive Pay is an automated fraud detection tool that matches your account number, check number and dollar amount of each check against a list of checks previously authorized and issued by the company. All three components of the check must match exactly or it will not pay.
How Positive Pay minimizes the potential of fraudulent check activity
Scans for paid checks that do not have a matching issue
Scans for fields that do not match the issue file
Scans for duplicate checks
Positive Pay is easy to use
Use Broward Bank of Commerce Treasury Management Online to import your check issue files or enter the data manually.
Issue files received between 6:00 a.m. Eastern Time and 4:00 p.m. Eastern Time are processed same day.
Suspect items are available by 7:00 a.m. Eastern Time.
Images of suspect items are available via Broward Bank of Commerce Treasury Management Online.
Pay or no pay decisions must be completed by 11:00 a.m. Eastern Time.
Simplifies end-of-month reconciliation by already identifying mismatched items.