Business Banking - Positive Pay

Check Positive Pay is an account reconciliation tool that protects companies against altered checks and counterfeit check fraud. This service provides you with additional internal controls to help protect your assets, avoid the hassle of disputing a fraudulent check, and saves you time.

With ACH Positive Pay, you can review incoming debits and return them before they are deducted from your account. Your business sets up a list of approved vendors that are paid automatically and filters that cap the amount of money that can be paid to any one vendor. Any electronic transaction that occurs outside of these boundaries generates an alert so you can decide whether it is legitimate and then approve or deny the transaction.

• Using your Cash Management Online Banking account, you upload the checks you issued.
• South Shore Bank will compare the checks you entered to the checks we receive for payment.
• When a check is received that does not match the checks you entered, the system creates an “exception item”. A list of any “exception” items will appear in Business Online Banking for you to pay or return.

Yes. Positive Pay includes check and deposit reconciliation as well as extensive reporting to meet the needs of any-sized business.

Yes, Cash Management Online Banking offers Sub-User capabilities. You can create additional users that you can choose to grant access to the Positive Pay service.

No, Positive Pay will work with your Business Online Banking. South Shore Bank will set this up for you.

Positive Pay offers numerous ways to automate many functions, helping businesses take advantage of cost savings and operational efficiencies. Positive Pay has an internal mapping tool, making it simple for You to use file formats native to your accounting software.

Contact us so we can conduct an analysis of your deposit accounts to see if there would be a fee and to find out more about the benefits of this service.

• Checks are presented for payment but have never been added to the issued check file.
• Checks are presented with an amount or check number that doesn’t match your issued check file.
• Your account is debited electronically from a vendor you have not approved.