Positive Pay

Worry-free business banking starts here.

Reduce the risk of fraud
with Positive Pay

  • Monitor account activity
  • Reduce the risk of check fraud
  • Block or filter ACH credits and debits

Protect your business from fraud with Positive Pay, an automated fraud detection tool available in Business Online Banking1 that helps minimize the risk of fraudulent activity in your business checking account(s). Positive Pay notifies and allows your business to reject unauthorized check or ACH items trying to clear your account.

Two types


Check Positive Pay

Check Positive Pay reduces the risk of fraud by providing early detection of: fraudulent, altered, or counterfeit checks through a daily verification of checks presented for payment, against a listing of written checks provided by the business.

  • Submit your list of issued checks in Business Online Banking, including, at a minimum, the check number and dollar amount.
  • We'll verify each cleared check against your list and you'll receive updates via email. If a check clears that doesn't match a check on your list, it becomes an exception item.
  • You choose to approve/deny what doesn't match by logging in to Business Online Banking to review. You can make decisions to allow the exception item to be paid or to return the item.

 

ACH Positive Pay

ACH Positive Pay mitigates the risk of online fraud by allowing your business to manage ACH debits and credits posting to your business account. With ACH Positive Pay business members can:

  • Set rules for ACH credits and debits. You can allow or block certain credits or debits and establish limits for debits from a particular tax ID, maximum dollar amount, etc.
  • Monitor ACH activity and receive alerts about activity that doesn't follow your rules. For example, if an ACH credit or debit clears and doesn't match your set of rules, it becomes an exception item to be reviewed.
  • Approve or return exception items by logging in to Business Online Banking to review and approve or return.

Interested in more information?

Our knowledgeable Business Services team is ready to answer your questions. For more information:

 

General Electric Credit Union is a full-service financial institution headquartered in Cincinnati with branches in Ohio and Kentucky.

Money Minutes Blog
 

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