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Minimize Risk
Preventing check fraud.
Webster Bank’s Payee Positive Pay and Reverse Positive Pay services provide an effective way to identify suspicious checks early and mitigate fraud. These services compare checks you’ve written with those presented against your account and put you in control of paying or returning any flagged item.
Payee Positive Pay
Put a powerful tool in place to protect your business against check fraud with Payee Positive Pay. You provide the check issuance file and this automated service uses a daily verification process, including the payee name to detect fraudulent, altered or counterfeit checks before any payment is processed.
Reverse Positive Pay
Reverse Positive Pay allows you to match and make decisions on all checks your company issues with those presented to the bank without uploading a check issue file. All checks are treated as an exception and you determine which items to process or return. Reduce potential losses by alerting the bank to errors or fraudulent activity before the checks are paid.
Check Positive Pay Benefits
Improved Control
Over Check Payments
Cost Saving and
Increased Efficiency
Greater
Security
Automate Check Matching
To use Payee Positive Pay, upload a file of the checks you issued and check void files each day via Direct Transmission or via e-Treasury where you can also enter the information manually. Webster verifies the information and validates by account number, issue date, check serial number, and dollar amount. With Payee Positive Pay, our verification service also validates the payee name.
Checks that match exactly what has been provided are processed with same-day or next-day payment, depending on time of receipt. You are immediately alerted to any exceptions and given the option to review online and determine whether to pay or return the check.
To use Reverse Positive Pay, no check issuance files are required to be submitted to the bank. Each business day, all checks presented for payment will be provided to you for review allowing you to identify and make decisions on any discrepancies. You will be alerted via email or text when the cutoff time to make payment decisions is approaching.
Allows you to mitigate the risk of check fraud by restricting your account to electronic transactions only. Paper checks/transactions are automatically returned.
Allows you to manage and monitor ACH debits and credits posting to your account via filters and blocks.
Provides the tools you need to balance your transactions and protect your business from unexpected fraud-related expenses.
Put our solutions to work for your business. Contact a Treasury Management Specialist today.
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