Fraud Prevention Services
Our Positive Pay fraud prevention services allow you to review incoming and outgoing checks before they are processed to guard against fraudulent activity.
Catch check fraud before it happens with Check Positive Pay*, a unique fraud protection service from Altabank. As you issue checks, an online data file will be generated with payee information that is then submitted to Altabank. Positive Pay electronically matches your issued checks with those that are presented for payment. Any check presented that is not on your list is considered potentially fraudulent. You’re then notified so you can access the system and either release the check or have it returned as fraudulent. Positive Pay reduces the risk of loss and payment of fees due to unauthorized, lost, stolen or duplicate checks. It also helps your company save time by avoiding the hassle of trying to recover funds.
For an added layer of security and control over ACH transactions, use Altabank’s ACH Positive Pay. This service allows you to review incoming ACH transactions before they post to your account so you don’t unwittingly accept unauthorized funds. Working with your banker, you can define partners that are authorized to send ACH debits for any, exact or maximum amounts to your account. Any item that meets the criteria established will automatically post to your account; you’ll be alerted to any exception transactions, safeguarding you against fraudulent activity.
*Positive Pay is available for a small monthly fee.