Get the free Check Positive Pay

Treasury & Payment SolutionsQuick Reference Gooseneck Positive Pay via Webster WebLink This guide will instruct you how to use the Check Positive Pay feature in WebLink to decision your positive pay

How to fill out check positive pay

How to fill out check positive pay:

1. Start by logging into your bank's online banking platform.
2. Navigate to the section for check positive pay or fraud prevention.
3. Select the option to create a new check positive pay profile.
4. Enter the required information, such as the company name, address, and contact details.
5. Specify the bank account(s) for which you want to enable check positive pay.
6. Determine the check amount threshold beyond which positive pay will be applied.
7. Choose the frequency of check verification, such as daily or weekly.
8. Provide a list of authorized check issuers or vendors, usually by their names or account numbers.
9. Input any additional details or preferences, such as check date range or exclusion criteria.
10. Review the entered information and submit the check positive pay profile for approval.

Who needs check positive pay:

1. Businesses that issue a considerable number of checks regularly.
2. Companies that want to protect themselves against check fraud and unauthorized transactions.
3. Organizations concerned about potential financial losses due to fraudulent check activity.
4. Entities that operate in industries prone to financial crimes, such as healthcare or retail.
5. Small businesses that may lack dedicated fraud prevention staff or robust internal controls.
6. Enterprises that need to comply with regulatory requirements for fraud prevention mechanisms.
7. Any business or organization looking to enhance security measures and reduce financial risks.

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What is check positive pay?

Check positive pay is a fraud prevention service offered by banks that helps businesses prevent unauthorized or altered checks from being processed.

Who is required to file check positive pay?

Businesses that issue a large volume of checks or are at a higher risk for check fraud are typically required to file check positive pay.

How to fill out check positive pay?

To fill out check positive pay, businesses must provide their bank with a list of authorized checks that are allowed to be cashed or deposited.

What is the purpose of check positive pay?

The purpose of check positive pay is to verify the authenticity of checks presented for payment, reducing the risk of fraud and unauthorized transactions.

What information must be reported on check positive pay?

Businesses must report the check number, date, payee name, and dollar amount for each authorized check.