With losses from check fraud reaching well into the billions, fraud control is a major concern for businesses everywhere.
With Compass Bank's fraud prevention service, Positive Pay, you will have confidence that only the checks you issue will be paid through the check collection system.
Positive Pay puts you in charge of payables by giving you complete control over which checks are paid and which are held for review. Alert notifications (sent via e-mail, pager, phone or fax) will advise you when your exception reports are ready for review.
By significantly reducing the potential for check fraud, Positive Pay can save you:
Positive Pay can minimize your exception processing because you transmit your issue file to Compass before you release any checks. It also simplifies account reconciliation since all unmatched items are examined daily instead of waiting until month-end.
All accounts and credit are subject to approval including credit approval.