Protect your business with Bennington State Bank’s Positive Pay, an advanced system designed to significantly reduce your exposure to check fraud at NO CHARGE to you.
We understand the importance of safeguarding your assets and are committed to providing you with the best banking solutions and services to help protect your business from fraud.
What is Positive Pay?
Positive Pay is a powerful tool that helps your business prevent check fraud. Positive Pay provides early detection of fraudulent, altered, or counterfeit checks through a daily verification of checks presented for payment against the checks that have been authorized by your business.
It works by comparing the checks presented for payment against a pre-approved list of issued checks. If a check does not match the pre-approved list, it will be flagged for further review, allowing you to catch any fraudulent activity before it becomes a problem.
Stop crooks in their tracks! I must admit I was hesitant to start positive pay and thought it would be a giant pain. After having several of our checks altered, in an isolated incident, we decided to go with Positive Pay. I am so glad we did. It takes little to no time but has saved the company several thousands of dollars, multiple times, plus the dead beats weren’t rewarded for stealing, and encouraged to continue their ways of crime.
Positive Pay only adds a couple steps to your daily routine.
Once it is set up, you upload your issued checks into Online Banking and review exceptions if you have any. With the use of e-Alerts, we can automatically alert you of any check exceptions.
A few minutes of your day can save you time and money from being a victim of fraudulent checks.
Why should you use Positive Pay for your business? |
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Protect Your Assets |
Positive Pay provides an extra layer of security against check fraud, helping you protect your business assets |
Increase Accuracy |
By comparing checks against a pre-approved list, Positive Pay helps ensure that only legitimate checks are processed and reduces the risk of errors |
Save Time & Money |
By preventing fraudulent checks from being processed, Positive Pay can save you time and money as you will not have to deal with the hassle of check fraud |
Peace of Mind |
With Positive Pay, you will have peace of mind knowing that your business is protected against check fraud |
It is easy to get started!
Get started with Positive Pay with these steps: |
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Step 1 |
Contact the BSB Treasury Team to get signed up |
Step 2 |
Send us a file to test your format. We will provide you with the specifications |
Step 3 |
Upload or enter all outstanding checks |
Step 4 |
Establish contacts for Bennington State Bank |
Step 5 |
Discuss maintenance requirements. You can use e-Alerts to assist |
