Positive Pay

Protection to safeguard your cash flow and your bottom line.

Positive Pay provides businesses with fraud prevention and detection through Cash Management. By allowing your business to control and approve or deny transactions, it can help streamline reconciliation, improve cash flow visibility and offer peace of mind against costly check and ACH fraud. 

Features:

  • Fraud prevention – with Positive Pay, businesses can stop counterfeit, altered and duplicate checks from clearing.
  • Ultimate control – The business decides which payments are legitimate to prevent unauthorized debits, allowing sole authority over disbursements.
  • Cost savings – With the protection of Positive Pay, businesses can prevent significant fraud losses.
  • Improved cash flow – Businesses can visually see outgoing payments.
  • Streamlined operations – With the help of Keen Bank and digital banking, businesses can have an efficient verification process, reducing the amount of manual effort for account reconciliation.
  • Real-time alerts – Businesses will receive immediate notifications for suspicious items to allow for fraud prevention.
  • Avoid disruption - If an account is compromised by fraud, the existing account may need to be closed, which creates the hassle of opening a new one and updating all ACH and direct deposit information. Positive Pay helps avoid this significant operational disruption.
     

How it works:

Receive notifications of any suspicious transactions and approve or reject them through Cash Management within online banking or your mobile app.
Submit your file of issued checks. Once the checks are presented for payment, Keen Bank will compare them to your file. Any discrepancies Keen Bank discovers—wrong amount or fake check number—will trigger an alert. You review the flagged items within your online banking or Keen Bank mobile app and decide to pay or reject the items in question.








To learn more about how Keen Bank can help protect your business and increase efficiency with Positive Pay, contact us today. 

Additional fees apply. Ask for details.