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Offering you more control to safeguard your business financial information.
We will help you evaluate your internal business processes and enhance your current risk management plan. By combining your unique cash management needs and business requirements with the appropriate safeguards, you can take a proactive approach to reducing your exposure to fraud.
Check Positive Pay – Reduce the risk of check fraud with Providence Bank & Trust Positive Pay. With this service, you submit an electronic file each day detailing the checks your business issues. As each check is presented for payment, the Positive Pay system electronically compares it to the information in your file. Any discrepancies are flagged and reported through a special email alert and can be viewed through our online cash management where you can see an image of the checks and make an online “pay/no pay” decision.
Beginning November 1, 2024, Check Positive Pay exception items that do not have an exception decision by the 2:00 PM CT cutoff time will be RETURNED.
ACH Positive Pay – Reduce the risk of ACH fraud with the Providence Bank & Trust ACH Block Positive Pay. With this service, you will provide the list of pre-approved companies that can debit your account. As ACH Debits are presented for payment, ACH Positive Pay compares the debits against your approved list. If the debits are from approved companies they will automatically be paid. If an ACH is pending that is not on your pre-approved list, we will email you to alert you to decision the item for approval to pay it or it will get returned.
Important Disclaimer Information:
All trademarks and registered marks are the properties of their respective owners.
1 Positive Pay is a fee-based service, and although not required, it is highly recommended. Providence Bank & Trust does not provide fraud insurance or cover losses in the event of fraud. Contact a Cash Management Specialist for current terms, conditions and applicable fees.
