Protection from Check Fraud
With today's sophisticated computer systems, scanning and printing equipment, it's easier than ever for scammers to create counterfeit checks. You can reduce the risk of loss from check fraud with Positive Pay, available through Associated Connect® .
Positive Pay is a web-enabled check verification service that lets you review exception items before they are paid and return checks that appear fraudulent. Benefits of Positive Pay include:
- Detect check fraud and monitor internal controls
- Reduce disbursement risk with timely returns
- Control whether exception checks should be paid or returned
- Review an outstanding check list at each month's end
- Cut administration time and processing costs
Payee Positive Pay is an additional Positive Pay service offered by Associated Bank. Payee Positive Pay takes the extra step in matching the clearing payee name to the payee name on your issuance file. A “payee mismatch” exception will be reported if the name on the check does not match the name received in the issuance file. Payee Positive Pay provides you with an additional layer of verification, allowing you to manage the risk of loss due to presentment of fraudulent checks, or the alteration and/or payment of such items.
How Does Positive Pay Help Prevent Check Fraud?
- You upload a daily list of checks to be issued to Associated Bank
- As items are presented to your account, we match them against your issuance file
- Checks on your list are paid; checks not on your list, or for which there is a discrepancy in check number or dollar amount, are marked as exceptions
- You review exception items online and make a "pay" or "no pay" decision
To learn more, contact our 24/7/365 Customer Care Center at 800-270-2707.