Central Bank of St. Louis
Check fraud is a problem that will cost American businesses and banks an estimated $50 billion this year alone. Positive Pay is an automated check-matching service that simplifies account reconciliation and identifies any check that was not legitimately issued or has an altered dollar amount.
This sophisticated fraud management service forms an alliance between the bank and your small business in the war against check fraud.
If you need a higher level of defense against check fraud, you can add Payee Positive Pay to your existing Positive Pay solution. The payee on the check image is read through a highly specific algorithm, verified, and compared to the issued file you provide.
Payee Positive Pay uses advanced technology to analyze each check’s handwriting and the “Pay To The Order Of” line.
Contact a business banking representative at 314.862.8300 or stop by any location to get started.
Not sure which solution is right for your business? Get started with Business Analyzer today and have your answer within minutes.