Positive Pay | IntelleCheck | Evisions
IntelleCheck Positive Pay

According to Ernst & Young, more than 500 million checks are forged annually with losses totaling more than $10 billion. With the built in Positive Pay feature, institutions can implement security measures that reduce the risks associated with altered or unauthorized checks. 

Positive Pay is an anti-fraud service offered by virtually every US commercial bank. It protects against altered checks and counterfeit check fraud. When a check file is processed, a list of the checks that have been issued (containing the account number, check number and dollar amount) is transmitted to the bank; this list is the positive pay file. When the checks are presented for payment, the bank matches each check presented against the previously transmitted positive pay file. If the presented account number, check number and dollar amount do not match the submitted positive pay list exactly, the check is not cleared and becomes an “exception item”. The bank sends a fax or image of that check back to the client for review and approval to process the payment or return the check.

By using the included Positive Pay feature from IntelleCheck, the positive pay file is automatically sent to the bank based upon the bank’s positive pay specification. During the implementation of IntelleCheck, Evisions designs the Positive Pay file based upon the supplied positive pay file specifications.

Advancements in technology and publishing software, has made it incredibly easy for criminals to create realistic counterfeit checks. With IntelleCheck’s Positive Pay feature, clients can confidently fight back and protect their funds. Combined with your bank's positive pay service, this feature dramatically decreases the chances of losing money to dishonest individuals either inside or outside of your institution. Even if check fraud has never been an issue, Positive Pay can help to ensure that it never has the chance to occur.

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