Positive Pay

Protect your business checking and ACH transactions

Positive Pay is a layer of protection Signature Bank offers to our business checking and ACH customers to protect your accounts from fraud. It is a low-cost, automated fraud detection tool that matches account numbers, check numbers, ACH debit entries and dollar amounts of each transaction presented for payment against a list of transactions previously authorized and issued by your company. We then report suspicious items to you for a pay/no pay decision.

Why use Positive Pay to combat
payments fraud?

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Prevents criminals from using stolen account numbers to cash checks or making unauthorized withdrawals or payments
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Catches “bad” checks where the check amount or date has been altered; flags ACH transactions that don’t match set rules or parameters
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Fuels timely communication between customers and Signature Bank

How Positive Pay for checks works

  • Submit issued check file: Upload your list of issued checks to the bank, including check number, amount and date.
  • Match and flag exceptions: Our team compares presented checks against the issued file and flags any discrepancies as exceptions.
  • Review and decide: Your team approves or rejects flagged checks. Approved checks are paid and rejected checks are returned.

How Positive Pay for ACH works

  • Submit rules and filters: Upload your list of ACH transactions that are allowed, including approved vendors and dollar amounts.
  • Cross-check and flag exceptions: Our team compares ACH debits against your rules and filters and flags any discrepancies as exceptions.
  • Review and decide: Your team reviews flagged transactions on our banking platform and approves legitimate debits and rejects unauthorized debits before funds are withdrawn.

Comprehensive Positive Pay solutions

Signature Bank offers a full suite of Positive Pay solutions to protect your business checking and ACH transactions.

Reverse Positive Pay

Your team approves or rejects flagged checks. Approved checks are paid and rejected checks are returned.

Payee Positive Pay

An enhanced version of Positive Pay that verifies the payee name in addition to check number and amount.

ACH Positive Pay

Extends fraud protection to electronic transactions, requiring business approval for ACH debits that don’t match a pre-approved list.

Checks are the payment method
most susceptible to fraud

With Positive Pay, you are notified when any questionable transaction occurs, before money leaves your account.

80% 

of organizations experienced
payments fraud in 2023

15% 

increase in payment fraud
from 2022 to 2023.

Association for Financial Professionals

Contact us 

Let our Signature Bank team assist in reaching your business goals and
aspirations. Contact us for more information.

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