What Is Positive Pay
Positive Pay is an effective anti-fraud tool that enables Bank of Mauston to match information about the checks your business issues to the checks being presented to the Bank, helping to eliminate fraudulent transactions. Positive Pay reduces the risk of check fraud by detecting counterfeit items, identifies exception items when presented rather than waiting on a monthly bank statement, and allows you to review items at the beginning of the business day so you can flag with a pay/no pay instruction.
How It Works
As checks are presented against your business account, we electronically match those checks against a list of checks previously authorized by your company. Any check not on the list is reported as suspect and you decide to pay or return the item by 11:00am. A Business Checking Account is required for this service. There is a $5.00 fee per account, not to exceed $10.00 per customer.
Interested?
Call the Bank of Mauston Operations Department for further details, 608.847.6200
