<img height="1" width="1" style="display:none" src="https://www.facebook.com/tr?id=591308824738648&amp;ev=PageView&amp;noscript=1">
brush-5

Positive Pay

Potential losses for your business from the risk of fraud can be substantial. A company lacking proper defenses is vulnerable to financial loss, costly disruptions, and reputation damage. But identifying and preventing fraudulent check payments is a difficult task for any organization.

 

At Vast we're committed to providing the resources you need to understand and recognize fraud, as well as the tools and services to help prevent it. With Positive Pay, we'll reduce the risk of unauthorized check payments and losses resulting from lost or stolen checks and/or unauthorized ACH debits.

 

Key Benefits

  • Daily account monitoring
  • Save time not having to review individual transactions as they're posted
  • Receive alerts notifying you of checks that may need your attention
  • Convenient online systems enabling easy, one-click decisions
  • Review exceptions only when you have them

 

How it works

In order to protect against forged, altered, and counterfeit checks, the Positive Pay matches the check number, dollar amount, and account number of each check against a list provided by your company. If all three do not match, we will not clear the check.

 

If the information does not match the check, we'll notify you through an exception report, withholding payment until you advise us to accept or reject the check.

Have a question about Treasury Services? Call us.
1(866) 833-0050